Quote:
Originally Posted by Fuzz
It's easy to go throwing all the blame at the BoC, but that doesn't really explain why so many of our peers are experiencing similar levels of inflation, so it rings a bit hollow to me. Did they all make the same mistakes, or was it unavoidable?
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Didn't just about everyone act the same way?
I mean I get the BoC saying the pandemic spending went on too long, but I think they were a bit slow to respond as well, but it seems like every country more or less responded the same way.
My issue right now is the race to rise interest rates, thinking it will solve inflation, when I think much of the inflation is driven by food issues and cost of fuel, both of which are affected by the war in Ukraine.
I suppose when you blow up the home building market by driving up interest rates very quickly, it will ease the supply chain, which should drop shipping costs. But at the same time we have high, high immigration levels, and we need to keep building homes to support them.
Their strategy seems kinda short sighted.