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  • 2018 State of the Inner City Report: Green Light Go...Improving Transportation Equity December 7, 2018
    Getting to doctors appointments, going to school, to work, attending social engagments, picking up groceries and even going to the beach should all affordable and accessible.? Check out Ellen Smirl's reserach on transportation equity in Winnipeg in this year's State of the Inner City Report!
    Canadian Centre for Policy Alternatives
  • Inclusionary housing in a slow-growth city like Winnipeg December 3, 2018
    In Winnipeg, there is a need for more affordable housing, as 21 percent of households (64,065 households) are living in unaffordable housing--according to CMHC's definition of spending more than 30 percent of income on shelter.? This report examines to case studies in two American cities and how their experience could help shape an Inclusionary Housing […]
    Canadian Centre for Policy Alternatives
  • True, Lasting Reconciliation November 21, 2018
    For the first time, a report outlines what implementation of the United Nations Declaration on the Rights of Indigenous Peoples could and should look like at the provincial level. This report focuses on implementation in BC law, policy and practices. Fundamental to the UN Declaration is an understanding that government must move from a “duty […]
    Canadian Centre for Policy Alternatives
  • Boom, Bust and Consolidation November 9, 2018
    The five largest bitumen-extractive corporations in Canada?control 79.3 per cent of Canada’s productive capacity of bitumen. The Big Five—Suncor Energy, Canadian Natural Resources Limited (CNRL), Cenovus Energy, Imperial Oil and Husky Energy—collectively control 90 per cent of existing bitumen upgrading capacity and are positioned to dominate Canada’s future oil sands development. In a sense they […]
    Canadian Centre for Policy Alternatives
  • A new Director for CCPA's BC Office: Message from Mary Childs, Board Chair October 24, 2018
    The CCPA-BC Board of Directors is delighted to share the news that Shannon Daub will be the next BC Director of the Canadian Centre for Policy Alternatives. Last spring, Seth Klein announced that, after 22 years, he would be stepping down as founding Director of the CCPA-BC at the end of 2018. The CCPA-BC’s board […]
    Canadian Centre for Policy Alternatives
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The Progressive Economics Forum

CPI Deflates Case for Rate Hike

Todaya€?s report that the national inflation rate fell to 1.2% in May deflates calls for higher interest rates to reduce inflation. The central banka€?s core rate was 1.8%, also below the 2% target.

The other argument for an interest-rate hike was to moderate mortgage lending and the housing market. However, the federal governmenta€?s move to reign in mortgage lending through the Canada Mortgage and Housing Corporation removes the pressure for the Bank of Canada to do so through monetary policy.

An important reason to keep interest rates low is to avoid upward pressure on the Canadian dollar, which remains near parity despite recent market turmoil. The OECDa€?s measure of purchasing power parity suggests that the exchange rate should be around 80 US cents. An overvalued currency hurts Canadian exports and threatens our economic recovery.

UPDATE (June 23): Quoted in the Regina Leader-Post and Saskatoon StarPhoenix

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