“Fear doesn’t exist anywhere except in the mind.”
A brief history of fear inducing headlines…
2010 – Bank of Canada should start raising interest rates immediately to fight inflation
The economic watchdog for the world’s most developed countries says the Bank of Canada should start raising interest rates immediately to fight inflation.
2011 – “OECD Urges Bank of Canada to Raise Rates”
The OECD considers a neutral benchmark rate for Canada to be between 4 per cent and 4.5 per cent,
short-term inflation expectations have begun creeping upwards in recent quarters,” says the report. “The Bank of Canada should therefore resume the normalization of policy rates soon in order to pre-empt a broadening of inflationary pressure.”
The OECD predicted Canada’s economy will expand 3 per cent this year, compared with its forecast of 2.3 per cent six months ago, and 2.8 per cent in 2012,
2012 – OECD Urges Canadian Interest Rate Hike
Paris-based research group suggests Canada’s benchmark rate go up .25 per cent this fall in the first of a series of hikes that would see the overnight target rate hit 2.25 per cent by the end of 2013.
2013 – OECD calls for Bank of Canada rate to more than double by end of 2015
2014 – More Nonsense.