Bank of Canada whiffs on a 2-foot tap-in.
First of all, the position the Governor of the Bank of Canada faces is a ‘no win’ scenario, and no one will be happy with the decision.
I do have some great empathy for the ‘rock and a hard place the Governor faces
I feel they missed a substantial step in the right direction that most everyone agrees is needed. This month’s announcement left me; disappointed, and I feel they missed an opportunity.
Bank of Canada demonstrated their forward-looking guidance is meaningless and all talk, no real action.
- Inflation will continue and accelerate
- All talk, signalling and sabre-rattling
- Other tools will be required to curb the enthusiasm/inflation (Real Estate taxes, increased down payments, changes to source of down payments, amortizations, and stress tests)
- Bigger jumps ahead (instead of small gradual steps)
Enjoy this episode…
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