Canada’s economy has come back to earth.
Statistics Canada reported Dec. 1 that gross domestic product grew at annual rate of 1.7 per cent in the third quarter, only a tick slower than the Bank of Canada’s October prediction of 1.8 per cent.
You should feel comfortable with that. Canada’s economy had been tiger-like, begging to be tamed by higher interest rates. Now, growth is in the range of what the central bank thinks can be sustained without stoking too much inflation. We do appear to have entered a Goldilocks phase.
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