[The Epoch Times, 10 ottobre 2022](Reported by The Epoch Times reporter Noé Chartier / compiled by Li Ping)CanadaThe liberal government argued that the currentpriceThe surge is a global phenomenon, but CanadaCentral bankRising prices have increasingly become a problem in Canada.
At the Halifax Chamber of Commerce (HCC) meeting on 6 October,Central bankGovernor Tiff Macklem noted that someinflationIt is global, it is out of control, but some increasingly reflect domestic issues, where the demand for goods and services is increasingly outstripping the economy’s ability to supply.
Macklem says the coronavirus blockages have led toinflationFalling into negative territory, leading to substantial fears of protracted deflation, in which case the central bank provided “extraordinary monetary support”, along with “extraordinary fiscal stimulus”, averting the Great Recession and enabling rapid economic recovery.
MacCollum said that due to the impact of the global supply chain, it faces labor shortages andpriceGrowing businesses, now expanding services, are all signs of excess demand in the economy.
Who is to blame for the price increase?
Conservative Party and Conservative Party leader Pierre Poilievre stressed that the liberal government and the central bank’s large deficit spending and continuous printing of money are the main culprits of inflation.
But when it comes to inflation, liberals say it is a “global problem” under the influence of both the pandemic and the Russian invasion of Ukraine. Treasurer Freeland and Prime Minister Justin Trudeau repeated the same rhetoric in Congress.
The Liberal government also said it also knew spending money would only make things worse, so the proposed inflation-reducing measures were cautious. People are cutting costs and the government is also trying to avoid adding fuel to the fire.
Data visualization,CanadaThe price index (CPI) in August this year reached 7%, down from 7.6% in July. In fact, not all developed countries are raising prices, such as Japan and Switzerland, the recent price index is only 3% and 3.3%, but the prices of most developed countries are skyrocketing such as Canada, such as the Netherlands September price index such as up to 14.5%.
Rising inflation and rising energy prices are certainly a factor, but the data shows that the euro zone’s money supply has also increased significantly at the same time. Since the beginning of spring this year, the central bank has begun to reduce monetary stimulus through quantitative tightening and has no longer engaged in quantitative easing as in the past. Since March, the central bank has raised interest rates from 0.25% to the current 3.25% and will announce the next round of interest rate policy on October 26.
Responsible editor: Wen Fang
