A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said.
A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said.
No sense of context. The BoC prime rate was right around 5% or higher from 1960 until 2008 or so. The all time high overnight rate was a bit over 18% in 1981 IIRC.
The rates are “high” now only relative to the record low rates we had prior to covid.