The old bank and the Red Sea: Bank of Canada must address threat of geopolitics

News Snapshot:

Open this photo in gallery: Governor of the Bank of Canada, Tiff Macklem, before speaking before the Canadian Club Toronto at the Royal York Hotel in Toronto on Dec. 15, 2023Carlos Osorio/The Globe and Mail Jeremy Kronick is associate vice-president and director of the Centre on Financial and Monetary Policy at the C.D. Howe Institute, where Steve Ambler, a professor of economics, Université du Québec à Montréal, is the David Dodge Chair in Monetary Policy. The Bank of Canada again held its target for the overnight rate at 5 per cent on Wednesday, as expected. The clamoring had begun for...