The Bank of Canada has raised its key benchmark interest rate seven consecutive times in 2022 in its fight to tame inflation. Canada’s key lending rate now sits at 4.25 % - its highest in nearly 15 years. So as we look to the next market cycle, how can Canada boost growth and productivity? And how can investors protect themselves from what’s to come? Joining us today to discuss Canada’s path forward is economist Jack Mintz and analyst Philip Cross, speaking with host Pamela Ritchie. Jack Mintz is the President’s Fellow of the School of Public Policy at the University of Calgary, and a Distinguished Fellow at the MacDonald-Laurier Institute. Philip Cross is the former Chief Economic Analyst at Statistics Canada and is currently a Senior Fellow at the MacDonald-Laurier Institute. A few key insights shared today include noting that we’re finally going through some deleveraging - meaning that housing prices will most certainly be tempered in the big markets like Toronto and Vancouver, where prices went up extraordinarily high. Our guests also look at provincial budgets, noting that budgets have been balanced to a large extent, except for Ontario. Oil is also discussed today, with our guests sharing how the oil price is back to levels seen prior to Russia’s invasion of Ukraine.

Recorded on December 13, 2022.

Transcript (PDF): https://www.fidelity.ca/content/dam/fidelity/en/documents/transcripts/transcript-podcast-fidelityconnects-Mintz-Cross-Dec13-22.pdf

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