The Bank of Canada and Tiff Macklem lost $522 million in Q3, so isn't this a perfect time to raise the question of why this institution that sucks so much money exists?
How it gets everything wrong.
I explain the yield curve and how the Bank of Canada is responsible for one thing and one thing only: sentiment and the overnight rate.
We also talk about the massive nearly half-a-trillion-dollar balance sheet.
We also talk about how it has created a much worse recession by holding interest rates too low for too long.