19:02:39 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Toronto-Dominion Bank
Symbol TD
Shares Issued 1,814,320,248
Close 2022-09-21 C$ 86.05
Market Cap C$ 156,122,257,340
Recent Sedar Documents

Globe says RBC, rivals see BOC challenge recession idea

2022-09-21 08:11 ET - In the News

See In the News (C-RY) Royal Bank of Canada

The Globe and Mail reports in its Wednesday, Sept. 21, edition that the Bank of Canada is pushing back against the idea it will need to cause a recession to get prices under control. The Globe's Mark Rendell writes that deputy governor Paul Beaudry on Tuesday challenged the idea that returning inflation to the bank's 2-per-cent target will necessarily entail a sustained economic contraction. The trajectory of inflation depends to a significant degree on what individuals and businesses believe about future inflation, he argued. If people's expectations for future inflation remain well anchored, it "greatly reduces the need to engineer a period of significant economic slack to get back to target on a sustainable basis," he said. Inflation was "headed in the right direction," he said, but remained "too high." His comments land in the middle of a debate about whether Canada is heading toward a recession. The aggressive pace of rate hikes is already hitting the economy hard, leading to a sharp decline in housing market activity and a pullback in consumer spending. A growing number of private-sector forecasters, including economists at RBC and Desjardins, now expect the Canadian economy to fall into recession next year.

© 2024 Canjex Publishing Ltd. All rights reserved.