Is there anything more tiring than hearing about interest rates and the economy, week after week, month after month? Well, it may be time for some good news.
As in…hearing next to nothing about both.
Perhaps.
Statistics Canada is reporting that inflation fell to 2.8 per cent, and that’s just within the Federal Government’s tolerance target of one to three per cent. A year ago, inflation was at 8.1 per cent.
Almost simultaneously, Bloomberg conducted a survey of 27 Canadian economists who declared — okay, predicted — that the Bank of Canada will leave the interest rate unchanged at five per cent until “well into next year.”
The Bank’s governor, Tiff Macklem, has declared (not predicted) he wants to avoid “making economic conditions unnecessarily painful for everybody.”
That is, as in more painful.
So the economists are predicting there will be no recession this year…and you can take that to the bank!