Inflation is still around seven per cent in Canada, which is way above the Bank of Canada’s two per cent target.

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Is the Bank of Canada reaching the end of its rate raising cycle? Back to video

But last week, the Bank raised interest rates by 50 basis points below market expectations of a 75 bps hike. Was governor Tiff Macklem and his team signalling that it is reaching the end of its rate-raising cycle?

This week on Down to Business, Financial Post editor-in-chief Kevin Carmichael discusses whether the economy has reached an inflection point yet and how far along he thinks the Bank of Canada is in its rate raising cycle, given that inflation remains elevated.

Carmichael, who has reported on monetary policy in both Canada and the U.S., says what is happening in the economy right now is unlike anything seen before.

As always, the interview is edited for clarity and brevity.

Listen on Apple Podcasts, Spotify, Stitcher and YouTube where you can also subscribe to get new episodes every Wednesday morning.

If you have any questions about the show, or if there are topics you want us to tackle, email us: downtobusiness@postmedia.com.

• Email: gfriedman@postmedia.com | Twitter: GabeFriedz