Posted AT 6:00 AM EDT on 12/06/08
How Bay Street got it wrong on inflation
When Mark Carney was named the new Governor of the Bank of Canada last fall, the complainants – there were a few – fell mainly into two groups. The first were investors who saw him as the evil architect of the feds' 2006 smackdown on income trusts. The second worried that an ex-Goldman Sachs guy might be too close to Bay Street.
We can discard that last one now, can't we? “Twelve out of 12,” says Don Drummond, chief economist of the Toronto-Dominion Bank.
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