In its renewed assault on the Bank of Canada (BoC) this week, the Conservative Party of Canada blames it for today’s high inflation. But the Tories’ own criticism of the bank — actually a backdoor attack on the Trudeau government — is anything but dispassionate. “The Bank of Canada created billions out of thin air, caused inflation, then denied it,” Scheer says. Our decades-high inflation was caused only in part by central bank infusions of rescue money into Western economies. They include the U.S. (8.3 per cent inflation), Italy (8.9), the U.K. (9.9) and Germany (10).

Source: thestar October 08, 2022 22:05 UTC