Canada markets closed
  • S&P/TSX

    18,444.22
    +2.42 (+0.01%)
     
  • S&P 500

    3,585.62
    -54.85 (-1.51%)
     
  • DOW

    28,725.51
    -500.09 (-1.71%)
     
  • CAD/USD

    0.7256
    -0.0055 (-0.75%)
     
  • CRUDE OIL

    82.05
    +2.56 (+3.22%)
     
  • BTC-CAD

    26,462.70
    -315.34 (-1.18%)
     
  • CMC Crypto 200

    443.49
    +0.06 (+0.01%)
     
  • GOLD FUTURES

    1,671.40
    -0.60 (-0.04%)
     
  • RUSSELL 2000

    1,664.72
    -10.21 (-0.61%)
     
  • 10-Yr Bond

    3.8040
    +0.0570 (+1.52%)
     
  • NASDAQ futures

    11,007.50
    -28.00 (-0.25%)
     
  • VOLATILITY

    31.62
    -0.22 (-0.69%)
     
  • FTSE

    6,893.81
    +12.22 (+0.18%)
     
  • NIKKEI 225

    25,937.21
    -484.89 (-1.84%)
     
  • CAD/EUR

    0.7400
    -0.0042 (-0.56%)
     

'Soft landing is wishful thinking at this stage:' former Bank of Canada economist

·1 min read
bankofcanada-0809
bankofcanada-0809

The Bank of Canada hiked its overnight interest rate by a full percentage point earlier this summer — a move so large and so swift that it would have been unimaginable not too long ago.

This week on Down to Business, Jean-Paul Lam, a professor in the University of Waterloo’s Dept of Economics and a former assistant chief economist at the Bank of Canada, talks about interest rates and inflation.

Lam said he thinks the aggressive tightening of interest rates in Canada, the U.S. and elsewhere is a sign that central banks fell behind the curve and missed crucial signals about the economy.

But if true, where does that leave us? When will inflation die down, especially when some of the longer-term causes, such as the pandemic, persist? We addressed these and other questions.

Listen on Apple PodcastsSpotifyStitcher and YouTube where you can also subscribe to get new episodes every Wednesday morning.

If you have any questions about the show, or if there are topics you want us to tackle, email us: downtobusiness@postmedia.com.

• Email: gfriedman@postmedia.com | Twitter:

Sign up for five amazing FP newsletters