A flat Canadian economy at the end of 2022 is a promising sign that monetary policy is working to bring down inflation, economists said Tuesday as Statistics Canada reported real gross domestic product (GDP) for last year’s fourth quarter.
, following five quarters of growth.
“The fact that total economic activity is still flattish, despite that strength in employment, I think will be a successful monetary policy news story for markets.” “It’s very clear to me that the long series of interest rate hikes are beginning to really have their effect,” Brusuelas said in a Tuesday television interview.
Antunes said it takes time for rate hikes to be felt in the broader economy, with some effects already seen in areas like the cooling housing market.is “headed in the right direction," Antunes said, which will likely weigh on the central bank’s decision to pause its tightening cycle.
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