Paul Volcker wanted to tame inflation and the Bank of Canada followed suit. The prime rate, which had fallen to 12.25% in July 1980 jumped to 22.75% by August 1981. A five-year fixed rate mortgage ...
inflation will be higher,” he said during a press conference in Ottawa. “We are going to be assessing the relative weight of those two.” In a departure from previous Bank of Canada meetings, Macklem ...
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