Armchair Bank of Canada critics like Pierre Poilievre should stick to football

The Bank of Canada (BoC) has rarely been so criticized as it is today. The Bank of Canada sets the interest rates which determine the cost of borrowing. And it pumps money into a stalled economy to get it going again, or pulls money back to keep the economy from overheating. The bank is now … Read more

This is how Canada’s inflation rate could be reduced

Year-on-year, CPI inflation was 6.7% in March. In other words, average prices for consumer goods and services in March were 6.7% higher than in March 2021 – a rate well above the 2% target and the highest since the start of 1991. Under pressure from economists and financiers, Bank of Canada Governor Tiff Macklem seems … Read more

This is how Canada’s inflation rate could be reduced

Year-on-year, CPI inflation was 6.7% in March. In other words, average prices for consumer goods and services in March were 6.7% higher than in March 2021 – a rate well above the 2% target and the highest since the start of 1991. Under pressure from economists and financiers, Bank of Canada Governor Tiff Macklem seems … Read more

Interest rate hikes cannot magically beat inflation in Canada

Is the interest rate a magic wand to fight inflation? Given February’s 5.7% inflation rate, the Bank of Canada—as expected—raised its target for the overnight rate to 1.0% from 0.5 on April 13. At that time, the consensus among economists was that the Bank would raise the policy rate by another 50 basis points in … Read more

Guy Lafleur was both an artist and a work of art

The temptation is to mythologize Guy Lafleur as the god of hockey delivered to the Montreal Canadiens by divine inspiration, the Quebec Remparts super-junior who immediately knocked them out of their Forum seats in a collective outburst of appreciation and affection. And what’s wrong with mixing hockey and mythology, right? Well, in this case, the … Read more

Why does Ottawa’s Green Bond program exclude nuclear, one of the cleanest sources of energy?

The federal budget, recognizing the urgency of fighting climate change, includes new positive incentives for the development of clean energy. But nuclear energy leaders, workers and management are raising serious questions about the budget’s failure to remove the sector’s exclusion from the right to apply for funding under the Green Bond Framework (GBF) of $5 … Read more

Why does Ottawa’s Green Bond program exclude nuclear, one of the cleanest sources of energy?

The federal budget, recognizing the urgency of fighting climate change, includes new positive incentives for the development of clean energy. But nuclear energy leaders, workers and management are raising serious questions about the budget’s failure to remove the sector’s exclusion from the right to apply for funding under the Green Bond Framework (GBF) of $5 … Read more

Why Ottawa took the extraordinary step of imposing sanctions on Russia’s central bank chief

On Tuesday, Canada imposed personal sanctions on Elvira Nabiullina, Governor of the Central Bank of Russia, for her role in the Russian attack on Ukraine. Ottawa also announced sanctions against 13 other “close associates of the Russian regime” as part of a new round of tough measures against individuals and entities linked to Russia’s invasion … Read more

Why Ottawa took the extraordinary step of imposing sanctions on Russia’s central bank chief

On Tuesday, Canada imposed personal sanctions on Elvira Nabiullina, Governor of the Central Bank of Russia, for her role in the Russian attack on Ukraine. Ottawa also announced sanctions against 13 other “close associates of the Russian regime” as part of a new round of tough measures against individuals and entities linked to Russia’s invasion … Read more

Inflation is here for the rest of the year — but relief is on the horizon

There will be little relief from inflation this year, despite the Bank of Canada’s valiant effort this week to curb further price increases with an unusually large half-point increase in its key lending rate. It’s best to brace for continued inflation for the rest of 2022. There have seldom been so many forces, at home … Read more