“Both Powell and Macklem have noted growing risk of recession in 2023, though the BoC went a bit further in suggesting the economy is likely to stall in the coming quarters and, in the near-term, modest declines in economic activity are just as likely as modest gains,” Nye said in a report.“We think that’s about as close as the BoC will come to calling a recession until we’re actually in one.”The Bank of Canada and the U.S.
7 per cent in October from a year earlier, which was the smallest annual increase since the start of the year. That report on Thursday sent stock markets soaring as investors hypothesized that slowing inflation would translate into fewer aggressive moves by the U.S. Federal Reserve.Nye said unemployment rates in both countries have inched higher but they remain just above cycle lows, and job vacancies are still remain elevated.
'Recession' is just a technical number. The writing has been on the wall for a decade. Most have had time to prepare for tighter times, but sadly, most ignore reality.
But that's no excuse to stop raising interest rates as inflation is still too high.
Why does he still have a job!!! This is entirely his fault. Stalling rate hikes intentionally knowing full well this would happen!!