MACKLEM IN YEAR-END INTERVIEW PROMISES TO REIN IN INFLATION, BUT NOT CHOKE THE RECOVERY
Nothing short of a recession will stop the Bank of Canada from raising interest rates early in the new year, perhaps as soon as Jan. 26, the day officials conclude their next round of policy deliberations. “The aim is to bring inflation back to target in a way that doesn’t choke off the recovery,” governor Tiff Macklem said in a year-end interview on Dec. 15. “That recovery is now well advanced and inflation is well above target. We’re not comfortable with where inflation is. It’s well above...
read moreU.S. INFLATION RATE SPIKES TO 6.8% – HIGHEST LEVEL IN ALMOST 40 YEARS
The cost of living is increasing at its fastest pace in almost 40 years right now, with data out of the U.S. on Friday showing the country’s inflation rate hit 6.8 per cent last month. The U.S. Bureau of Labour Statistics said Friday that higher costs for gasoline, shelter, food and new and used vehicles were the biggest factors in pushing the rate to its highest point since June of 1982. Canadian data for November is not yet available, but it, too, is expected to rise from the 18-year...
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