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Economic Viewpoint

A Recession Seems Likely in Canada and Other Countries

August 25, 2022
Jimmy Jean, Vice-President, Chief Economist and Strategist
Randall Bartlett, Senior Director of Canadian Economics • Hendrix Vachon, Principal Economist

After more than two years of the COVID-19 pandemic, sustained high inflation has forced many central banks to aggressively hike interest rates. But bringing inflation to heel won’t be easy. Canada’s economy, like so many others, seems to be entering a slight downturn that should reach its nadir in early 2023. In our opinion, this decline is a necessary evil and will help offset some of the imbalances that are feeding inflation.

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