The Bank of Canada surprised many with a smaller-than-expected rate hike of just 50 basis points. Scotiabank’s Chief Economist Jean-François Perrault is back to break down what this means and what the central bank is signaling about inflation and the economy ahead.

Key moments this episode: 

00:48 — First reactions: why this move is surprising and what it could signal 

2:08 — How did we end up at this high of an interest rate? 

3:05 — What impact will these rising interest rates have on daily life? 

5:15 — Has employment been affected by interest rate increases? 

6:35 — What is a monetary policy report and what did it say? 

8:33 — What is a ‘technical recession’? 

10:15 — What would a ‘technical recession’ mean for Canadians?