@manlycoffee the Bank has the single goal of inflation targeting with the single tool of monetary policy because the federal govt. has set it up in exactly that way.
It can be setup to have different or additional goals, like targeting employment or housing. And it can be provided with different tools.
The Bank of Canada is 100% part of the govt. Elected govts. control it, even if they like to steer clear of directly meddling.
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@manlycoffee monetary policy changes via setting the risk-free interest-rate floor in the debt markets...has different effects on different things. For some things, the interest rate makes them more expensive & less attractive.
It doesn't work great for housing. It adds costs to housing. But it doesn't make housing less necessary or attractive. Housing demand is resistant.
@manlycoffee there are all kinds of options. But people are kinda brainwashed into thinking the current system is good for them. It's the system put in place by and to benefit wealth.
The current balance of inflation, govt. spending, unemployment, taxation, media, politics....it's hard to argue the choices here are anything else but to benefit wealth. Just enough for everyone else to avoid them getting their heads chopped off...
Speaking of supply-chain issues, China was struggling to meet demands during the pandemic.
While the rest of the world opened up and China was falling behind, Canada should have looked into bringing in more secondary markets into its borders. But nope, we are still dependent on China.
And as Tim Cook said, China is no longer the leader in cheap labour. Labour costs are similar to that of North American markets.
The real problem is that the raw knowledge in manufacturing is just not here in Canada.
We have lots of land for which we could develop manufacturing capacities, but we didn't.
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