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Independent Review of Stimulus Needed, Mintz Says

BOC
  • “The Bank erred in 2020 and 2021 in failing to understand the implications of cost-push inflation, which was quite different than the 2008 financial crisis, which led to a fall in demand for goods and services,” Jack Mintz, head of the University of Calgary's public policy school and a former finance department visiting economist, told Senate banking committee Thursday
  • “An independent review of the Bank of Canada’s monetary operations should be considered, similar to the Australian review now being conducted.”
  • Governor Macklem told senators Wed night the Bank will do its own review of tools used after it returns inflation to target; said in hindsight QE should have been ended sooner
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
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MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
Homepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

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