Quote:
Originally Posted by MillerTime GFG
I had the absolute privilege of listening to Benjamin Tal speak yesterday at the National Mortgage Broker conference. He's the Deputy Chief Economist for CIBC, and one of the most respected economists in the country. Guy is brilliant, and a good speaker too.
Highlights:
- "If you give the BoC 2 options - recession vs. inflation, they will choose recession every time"
- Expect a 50bps increase to 3.75% this month, and potentially another 25bps later this year before leveling off, which he does expect to be the case.
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I haven't tracked the BoC rate changes over the last year, but have they been that out of line with the Fed? The expectations for the Fed are 75bps in November and 50bps in December. I'm surprised BoC wouldn't try to keep pace with them.