Question
The Economic Role of Government in Canada Please review both the Bank of Canada's Monetary Policy Report (Bank of Canada) and the 2023-2024 Fiscal Budget
The Economic Role of Government in Canada
Please review both the Bank of Canada's Monetary Policy Report (Bank of Canada) and the 2023-2024 Fiscal Budget (Department of Finance) and create a threat highlighting the following points:
- The current economic condition (actual GDP)
- The most relevant expectations for 2023-2024 in terms of the main macroeconomic indicators
- Main Fiscal Policy actions (Tools) by the Department of Finance to achieve economic stability
- Main actions from the Bank of Canada (Tools) to achieve economic stability
In your opinion, which type of policy is most recommended for the type of current and future economic conditions? Support your arguments in your own thread as well as in the 2 additional contributions.
Resources:
1. Department of Finance
LINK:https://www.budget.canada.ca/2023/pdf/budget-2023-en.pdf
Documents:
Chapter 6: Effective Government and a Fair Tax System - https://www.budget.canada.ca/2023/report-rapport/chap6-en.html
Annex 1: Details of Economic and Fiscal Projections - https://www.budget.canada.ca/2023/report-rapport/anx1-en.html
Video:https://youtu.be/xzbtMoz9NyU
Budget 2023: Address by the Deputy Prime Minister and Minister of Finance
Video:Watch: Freeland presents details of dental plan in 2023 budget:https://globalnews.ca/video/rd/36514c3e-cda9-11ed-9bd9-0242ac110006/?jwsource=cl
News Piece: (Globe & Mail) Federal budget 2023: Ottawa loosens fiscal restraints with new spending:https://www.theglobeandmail.com/canada/article-canada-federal-budget-2023/
News Piece + Videos: Global News: 5 ways Budget 2023 will impact your wallet:https://globalnews.ca/news/9584976/budget-2023-impact-on-your-wallet/
2. Bank of Canada
Video & Full Document: Monetary Policy Report:https://youtu.be/uSiF1iUiheA
PDF:https://www.bankofcanada.ca/wp-content/uploads/2023/01/mpr-2023-01-25.pdf
January 2023 Monetary Policy Report - In Brief
News Piece: (Global News)Inflation in Canada continues to slow, reaffirming BOC's rate pause
News Piece + Video: (Financial Post) Canada's inflation rate cools more than expectedhttps://financialpost.com/news/economy/inflation-rate-canada-lower-than-expected
Inflation in Canada continues to slow, reaffirming BOC's rate pause - https://www.ctvnews.ca/business/inflation-in-canada-continues-to-slow-reaffirming-boc-s-rate-pause-1.6321766
The annual pace of inflation cooled in February as it posted its largest deceleration since April 2020. - https://www.ctvnews.ca/business/inflation-in-canada-continues-to-slow-reaffirming-boc-s-rate-pause-1.6321766
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