Q: Bank of Canada just raised the key rate to 1.75% and drops its pledge to move gradually. What's Mr. Poloz seeing that the rest of us are missing because the TSX is singing a much different tune? I hope it's not the part time jobs from the recent elections in Ont, Que & NB. We're a little removed from what's happening in Central Canada but I can safely say the Alberta economy is not running at full capacity. In fact one of the largest land developers in Calgary just recently let go 40 office workers.
It's not the first time the BoC has been offside and had to reverse course. They seem to focus too much on a few key data points and ignore the economy as a whole.
It's not the first time the BoC has been offside and had to reverse course. They seem to focus too much on a few key data points and ignore the economy as a whole.