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6 meeting to a one-in-four chance, from about 50-50 early last week.Language in the statement accompanying the rate decision may have something to do with that.The fact new government spending measures, outlined last week by Finance Minister Bill Morneau, could pressure the central bank to move rates higher is already drawing opposition attention to the matter.“I want to highlight the potential risks that Canada faces as interest rates inevitably begin to rise,” Pierre Poilievre, the opposition Conservative Party lawmaker responsible for finance issues, said in a phone interview.“We have both growing household debt and growing government debt,” he said.
According to Doug Porter, Bank of Montreal chief economist, economic data show companies have also been ramping up inventories this year, which needs to be financed.
They are also in the process of repairing income statements, after a tough couple of years of profits, and may need some debt to get investments going.“We might be at the stage of the cycle where businesses do need a bit of financing to support modest increases in capital spending,” Porter said.
David Dodge, left, who led the Canadian central bank between 20, thinks current Bank of Canada governor Stephen Poloz, right, should raise rates now that the economy is running more or less at potential.
One of Governor Stephen Poloz’s predecessors says the Bank of Canada’s current approach to increasing interest rates is too cautious.
The Bank of Canada’s latest credit data show growth in debt financing is slowing from elevated levels earlier this year.
Still, 2017 is on pace for the strongest year since the 2008-2009 recession.
Recession bars provide a graphical representation of business cycles in the United States economy dating to 1850 based on cycle begin and end dates defined by the National Bureau of Economic Research’s Business Cycle Dating Committee.
The Committee considers a “recession” or contraction as a period of diminishing (vs diminished) activity and an expansion as a period of increasing economic activity.
David Dodge, who led the Canadian central bank between 20, thinks Poloz should focus more on the long-neglected issue of financial stability and take the opportunity to raise rates now that the economy is running more or less at potential.
Poloz kept his benchmark rate at 1 per cent last week and indicated he’s in no rush to tighten, given that he still sees signs of wage and inflation slack.
“Their’s would be more or less the mainstream view, whereas I put a little bit more emphasis” on financial system distortions.Tags: Adult Dating, affair dating, sex dating