- “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
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BOC: Independent Review of Stimulus Needed, Mintz Says
Last updated at:Nov-24 19:12By: Greg Quinn
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- “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
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