Bank of Canada governor Tiff Macklem yesterday said inflation may be getting close to the bank's target of 2% by the end of next year, and while not making a commitment did say as well the BOC is increasingly confident interest rates will not have to be moved higher in order to get prices back under control. The Canadian economy shuddered in 2023 with the Bank of Canada repeatedly raising interest rates and inflation climbing so significantly a many Canadians told pollsters they are "tapped out" and 40% lose sleep each night worrying about their personal financial reality, Canadian homeowners in large numbers have concerns they will not be able to afford their homes as mortgage rates climb. Canadians are living with $2.4 trillion debt according to Equifax as 2023 comes to a close. Are we headed into a 2024 recession? Are we experiencing a recession now (even if its not technical)? Is the BOC's Governor's prognosis real or pie in the proverbial sky?

Guest: Professor Eric Kam. Macroecnomist. Toronto Metropolitan University.

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