Concern acknowledges balancing act the central bank faces as it fights inflation
“The two that come to mind and the two that I think are still on our minds at the federal level would be leverage and liquidity, so high levels of debt,” Rogers said during an Oct. 17 Toronto Centre panel discussion in Toronto. “This is at the consumer level, corporate level and at the sovereign level, and that is also at the domestic and international level.”Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.
Canadians are now feeling the pinch from inflation and higher rates. After hiking the policy rate by three percentage points this year to 3.25 per cent, the Bank of Canada has said it is ready to tighten even further to put a lid on decades-high inflation. Rogers pointed to the bond market drama playing out in the U.K. as an example of the kind of liquidity squeeze the Bank will be on alert for. Yields on government bonds there soared, sparking forced selling by over-leveraged pension plans, after U.K. Prime Minister Liz Truss attempted to freeze corporate taxes for next year.Article content
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