Most businesses and consumers expect a recession is on the horizon, according to a survey put out on Monday by the Bank of Canada. Next week, the central bank is expected to hike interest rates — again — to bring down inflation. But continuing to hike interest rates could actually help provoke that feared recession, leaving some wondering what the alternatives are. Jim Stanford is an economist and director of the progressive think-tank the Centre for Future Work. He's also the author of a new report that argues against the Bank of Canada's "one-sided" approach to inflation. Today on Front Burner, he tells Jayme Poisson why he thinks this potential recession is a choice that will hurt regular people, and offers other tactics to ease the sting of inflation.
Median rent for one-bedroom in Victoria now $2,080 per month, up 30 per cent: reportThe bank of Canada remedy is worse than the disease. Wages are not keeping up and this is not the 1970's. They need to apply the brakes but not slam them. This means their policy needs to be flexible and they clearly are not signaling that.
CKA Moderator 
