Loading ...‘Not going to feel good’: Head of Canada’s central bank warns economic outlook is grim
After hiking interest rates for the eighth time in a row on Wednesday, Bank of Canada Governor Tiff Macklem told reporters that the economy is “slowing” and will continue “to slow,” warning that growth rates for the rest of the year will be “pretty close to zero.” Elaborating, Macklem said that nation’s economy has effectively “stalled,” and that this lack of growth “is not going to feel good” for already struggling Canadians.
The nation’s debt level has?nearly doubled?to approximately?$1.2 trillion?in the span of less than two years, from?around $685 billion in?2019. Critics have long characterized the Trudeau government’s spending as “reckless,” and have blamed it for the current inflationary crisis.
Food inflation in particular is so bad that the Department of Social Development warned it might increase the nation’s poverty rate significantly.?
‘The nation’s debt level has?nearly doubled?to approximately?$1.2 trillion?in the span of less than two years’
That is called MIS-MANAGEMENT!