John Robson: Bank of Canada Should Worry About Inflation, Not Economic Planning

Commentary We are saved. Forget people shooting up Jewish schools and the feds shelling out some $50 billion annually on debt exceeding $1.2 trillion. The Bank of Canada will make a rate announcement on June 5. Having read the tea leaves, split the shoulder blades, and perused the thesaurus for “vague yet reassuring,” they will fine-tune the economy as always. Alas, as a mere historian, I only know what havoc dumb mistakes wreaked in the past. I have no Ouija board to spell out “Bank of Canada could tilt to July rate cut to benefit from flood of data,” as Reuters put it on May 22....