For the sixth time since March, the Bank of Canada (BoC) has hiked its benchmark interest rate in an effort to combat the inflation crisis – to 3.75% from 3.25%.
In its latest Monetary Policy Report, the central bank is echoing the warnings of many economists that a recession is possible in the first half of 2023.
“GDP growth is then projected to slow to between 0 per cent and 0.5 per cent through the end of 2022 and the first half of 2023,” reads the report.
“This suggests that a couple of quarters with growth slightly below zero is just as likely as a couple of quarters with small positive growth.”
The BoC predicts inflation will eventually decline and hit its 2% target by 2024. Last week, Canada’s inflation rate declined slightly to 6.9%, but the price of food continued to increase.
StatsCan revealed that “in September, prices for food purchased from stores (+11.4%) grew at the fastest pace year-over-year since August 1981 (+11.9%).” This means the ongoing rise in food prices has hit a 40 year high.
Several economists have warned that the Canadian economy faces an imminent recession.
Prior to the BoC’s admission that a recession is likely in 2023, economists from Desjardins Group and the Royal Bank of Canada warned Canadians to brace for further economic woes.
“Our view is that we’re going to see a continued slowing of sales activity in Canada, and continued weakness on the price side going forward,” said Desjardins Group economist Randall Bartlett.
The BoC’s next rate announcement is scheduled to take place on December 7.
I am an extremely concerned citizen about the direction our politicians wish to take us, UNLAWFULLY, against our wishes. The evidence, lying and censoring the truth about covid 19 is at an all time high.
I am not a doctor, or scientist. Nor do I need to be. There is massive censorship of these professionals funded by big pharma to silence them from exposing the truth. On this site, I have documented their videos, along with lawyers all over the world. There are multiple law suits in Canada against the Federal and Provincial governments for their actions regarding Covid 19. The cases and lawyers are well documented on this site, and you can find them under the Awake Resources tab.
The research is accumulated through thousands of our members, some of which are police, doctors, chiropractors, immunologists, and harvard educated people. We are not anti-vaxxers, nor conspiracy theorists. We are citizens that are determined to expose the truth. The mainstream media on this planet is owned by 6 large companies. The rest are subsidiaries, and all of them are being given directives to suppress anything against the narrative of lockdowns, and vaccines. There is a political agenda in play here, and our governments have turned against their people.
They are using software, and mail in ballots to keep their political figures in office to complete this agenda. We are all being played on a massive level, and by investigating the material on this site and thousands of other sites that popped up trying to share the truth with you, our goal is simply this.
To save our Country from totalitarianism and to save our citizens from medical tyranny from corrupt organizations such as the WHO, and the CDC. These companies are now just vaccine companies owned by the medical cartel we are all falling victim too. This is a wake up call to humanity, our police, military, and citizens to take back our country and expose the criminals, and to hold them accountable in trials for war crimes against humanity.
WE WILL WIN PEOPLE! STAY STRONG. STAY FOCUSED. NEVER STOP SPREADING THE TRUTH. THE TRUTH WILL PREVAIL!!
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