34 comments

  1. Printing money and then raising interest rates is like breaking your own windows and then fixing them. Increased interest rates do nothing to fix the negative supply shock. I can’t believe our Governor of the Bank of Canada said this.

    1. @Larry Williams raising interest rates slows spending down so supply shortages are eased and prices should come down. You are correct in that this could have been eased with less spending and raising interest rates years ago when the economy no longer needed to be stimulated.

    2. @Kyle Ruggles So would I but they are all hooked on printing money which is made possible through fiat currency manipulation. Their solution will be to move to a CDBC (central digital banking currency) which will enable more shenanigans. Sunak has already stated this policy initiative to be implemented in UK by 2025. He is former Goldman Sachs.

    3. @Larry Williams To clarify .. Canada needs to produce more goods and services to correct the negative supply shock .. too much money going after too few goods and services. Raising interest rates will prevent businesses from making decisions that will increase the supply of goods and services. It will prevent them from being able to hire, and pay expenses that are necessary to being able to produce more. The distribution channels, shipping, etc. are still in disarray and are needing to rebuild .. this all takes working capital. Expect to see banks increase their interest rate spreads even more, thus exacerbating the Bank of Canada’s actions. It’s a real mess. A dark winter for sure.

    4. @Kyle Ruggles you’re kidding right? Many countries did not print money like it was going out of style including Japan, South Korea, Switzerland and many others

  2. Hola..Disgusting ! With these hikes again every, couple of months ! No wonder we’re going into rescission!!!Unreal😡

  3. you will never can achieve your goal by increasing prime interest rate only.. wait and see.. You are in a complete wrong direction Mr. BoC Governor!

  4. don’t worry . this all just transitory. as someone said. also interested rate will stay low for a long time…he continued

  5. Shouldn’t have printed those billions of dollars in 2020, Tiff you big dummy! Recession on the way!

  6. Does he even understand what is he saying? I think the last few lines were just mumbling
    How much did he take as a pay raise?

  7. cannot eat your cake and have it too; or serve two masters, this guy applied three time to be the governor – fourth time was the charm as they ran out of candidates

  8. IMO this should have been done 5 years ago when the economy was in a better place. Now that things are tanking let’s raise rates makes no sense

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