Bank of Canada July rate hike would be a mistake: CIBC's Benjamin Tal

FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa

The economy and inflation are still too strong for the Bank of Canada’s liking, and there’s a real risk that it could hike rates again in July, says CIBC Deputy chief economist Benjamin Tal.

But Tal points out that recessions in the past are most often caused or helped along by monetary policy error, and we are getting closer to such an error in Canada now.

Watch Tal in conversation with the Financial Post’s Larysa Harapyn.

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