The Bank of Canada’s governing council worried that the decision to hold rates steady on Sept. 6 could be ‘misinterpreted’ as a sign that the rate tightening cycle was finished.
The Bank of Canada’s governing council worried that the decision to hold rates steady on Sept. 6 could be ‘misinterpreted’ as a sign that the rate tightening cycle was finished.
I don’t disagree with their approach to inflation. Frankly I’m unequipped to comment, so I didn’t. You assumed that, which is why you seemed to have taken it personally.
I think it’s natural that people misread their actions given that finance is basically voodoo to most non-economists. This plays a part in keeping people poor, especially across generations. I am, apparently controversially, not a fan of this fact.
Have you ever actually read the CRA’s literature explaining various parts of the tax code, for example? Opaque af. It’s not in the least surprising that people misunderstand the application of various economic levers when applied by fancy men in tall buildings.
Any attempt by experts to explain this shit can be juxtaposed with a similar attempt by another expert who says the complete opposite. Conclusions can generally be boiled down to “a will lead to b unless c, d, e, f, g…y, or z.” Hence: nonsense.