Bank of Canada Hikes Rates

Image copyright: Reuters [via The Straits Times

The Spin

Pro-establishment narrative

The goal of BOC has always been, and continues to be, fighting inflation, which means slowing the economy through various tools. Inflation is still at over 6%, so while the bank will pause any further rate hikes for the time being, it has rightly left the door open to further increases down the road.

Establishment-critical narrative

Inflation has decreased, but not because of the BOC’s rate hikes. Rather lower commodity prices and the clearing of supply chains have indicated that inflation was transitory after all. With Canadians feeling the pressure of the bank's monetary tightening, the BOC shouldn’t even think about more hikes moving forward.


Establishment split

CRITICAL

PRO

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