On le croyait mort, mais certains l’ont vu rôder. Plusieurs prédisent son retour prochain. D’autres en font plutôt des gorges chaudes. L’inflation est redevenue le bonhomme Sept Heures des marchés financiers.
Ce n’est pas tant l’augmentation du coût de la vie qui préoccupe les financiers, par ailleurs bien payés, mais l’effet négatif qu’elle pourrait avoir sur les taux d’intérêt et par-delà, sur leurs investissements. L’inflation soulève aussi un questionnement sur le financement de la dette publique.
Ces derniers temps, l’afflux des bonnes nouvelles énerve les marchés. Aux États-Unis, ils notent l’accélération de la vaccination, le gigantesque stimulus budgétaire et un taux d’épargne très élevé. Cet été, les…
Policy decisions coming soon from the CRTC, the federal telecommunications regulator, are going to shape major investment decisions with critical impacts on our economy. Canadian governments need to get the right balance between investment and sustainable competition. Failure to do so will jeopardize efforts to get Canadian communities digitally connected and hence our ability as a nation to participate in an increasingly digital world economy.
The next generation of technology investment — “5G” — is critical to the economy’s future. For example, it will be key to commercializing innovations in precision agriculture. It will enable rural economic development, such as automated hauling at mine sites, and underpin further…
The Bank of Canada stuck to the status quo last week, leaving its target for the overnight interest rate at 25 basis points and maintaining quantitative easing (QE) at a rate of at least $4 billion of bond purchases per week. But it did so in the context of higher inflation and a stronger-than-expected economy. With good news on the vaccination front and the prospect of more economic activity in the near term, there is reasonable concern the recent rise in inflation is more than just a one-off rebound from depressed prices a year ago. The Bank’s challenge now is to manage, not just inflation, but inflation expectations, as well.
Year-over-year headline inflation increased from 0.7 per cent in December to 1.0 per cent in January,…
