Bank of Canada might pull off a soft landing, but it won't be easy — via financialpost Economy Canada
“It’s like trying to land a helicopter on the head of a pin needle,” said Tom O’Gorman, director of fixed income at Franklin Templeton Canada.
Bank of Canada Governor Tiff Macklem told reporters last week that he agreed that avoiding a hard landing will require some “delicate” manoeuvring. He’s also aware that central bankers rarely have managed to choke inflation without harming the broader economy. Their preferred tool — the benchmark interest rate — doesn’t lend itself to deft manoeuvres.a narrow path is still a walkable one
“There is excess demand for labour,” Bank of Canada Macklem said on a video call with journalists last week, citingthat Statistics Canada counted at the start of January, an increase of some 60 per cent from the first quarter of 2020. , which assumes sufficient interest-rate increases to get inflation back to 2.4 per cent by the end of next year, while still achieving “pretty decent growth” of 4.2 per cent this year and 3.2 per cent in 2023.Article content
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