Episode 30: Canadian Economy Headed For A Recession What Now?
Conversations With Uncle Kevin
English - July 28, 2022 21:15 - 29 minutes - 27 MBSociety & Culture Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Episode 30: Canadian Economy Headed For A Recession What Now?
Inflation, labour shortages and rising interest rates will drag on Canadian growth, pushing the economy into a moderate contraction in 2023. The jobless rate will rise next year but to less severe levels than in previous downturns. Though higher rates will restrict growth, they’re necessary to tame inflation and cool an overheating economy. Household spending that accelerated out of pandemic lockdowns will slow as higher prices, interest rates and unemployment hit households. The bottom line: This recession will be moderate and short-lived by historical standards—and can be reversed once inflation settles enough for central banks to lower rates.
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