The Bank of Canada Used Lumber To “Prove” Transitory Inflation, Then Prices Doubled
Canada’s central bank used lumber prices to dismiss inflation, but it’s doing the opposite. In October, the Bank of Canada (BoC) used lumber to back its transitory inflation narrative. Short-term supply chain issues are the problem, not monetary policy, they explained. Excess demand fueled by easy money has since been acknowledged as the culprit by […]
