Lessons in fighting inflation from the post-pandemic economic aftermath

Central banks, particularly those with a stated goal of price stability, must act decisively and swiftly in response to inflation to preserve their credibility.

Bank of Canada Governor Tiff Macklem. The BoC's lack of foresight in tackling rising inflation early meant that when it decided to put the brakes on inflation, it had to do so more aggressively, leading to higher interest rates, writes Carlos Yépez. The Hill Times photograph by Andrew Meade

Opinion

BY CARLOS YéPEZ

May 1, 2024

The post-pandemic economic aftermath has led to inflationary pressures worldwide, and central banks are at the forefront of the battle. The Bank of Canada (BoC) is no exception as it continues to face the challenge of higher-than-usual and persistent inflation.

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