Monetary Policies for Dummies? - by John Smithin
I originally wrote this piece for the Monetary Policy Blog edited by Professor Louis-Phillipe Rochon. In it, I suggested that that the Bank of Canada should cut its policy rate of interest to 4.4%. Then on 07.06.2023 some friends, who pay more attention to the mainstream media (MSM) than I do (not in itself a very difficult task), texted or messaged me with the news that the B of C had actually raised the rate to 4.75%. I believe the appropriate response is LOL?