Canadian Lawyer looks at the latest Bennett
Jones Economic Outlook and why David Dodge does not expect any
loosening of monetary policy in 2023. Rates will likely only come
down gradually in 2024 and 2025, depending on the
"stickiness" of inflation.
The Economic Outlook says, "a period of very low growth, but
not necessarily a recession, is needed in the second half of 2023
and early 2024 to curb excess demand and bring inflation down . . .
getting inflation back to target—for Canada to the middle of
the one percent to three percent band—will not be an easy
task."
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