Geoff Castle chats with former Bank of Canada Governor, David Dodge.
Subtitle: A journey through a distinguished career in Canadian economics.
In this episode Geoff Castle, Fixed Income Portfolio Manager, chats with former Bank of Canada Governor, David Dodge. They discuss a number of critical economic events that occurred during his seven-year term including 9/11, the commodities boom in the mid 2000s and the early stages of the 2008 financial crisis along with his current voice in Canadian economic circles as a senior advisor at Bennett Jones.
Key Takeaways
| [01:58] | What interested David in finance and why he pursued a Ph.D. in economics. |
| [03:43] | The issues that drove inflation in the 1970s and how the economy was different then than it is today. |
| [08:38] | Critical policy initiatives that David worked on through the 1980s and 90s including enacting the GST. |
| [12:02] | Income Trusts and the changes that happened around that policy over time. |
| [18:08] | How David handled 9/11 as Governor of the Bank of Canada from the perspective of the Canadian economy. |
| [31:04] | The trading range of the Canadian dollar which fell to 62 cents, the lowest exchange rate it had ever had against the US dollar, during David’s tenure. |
| [36:27] | A discussion around the contemporary economy in the market including modern theories and what the “right” policy view is for this day and age. |
| [45:49] | The 2021 renewal of Canada's Inflation Targeting Policy by The Bank of Canada and the issues surrounding this. |
| [51:40] | David’s thoughts on the Central Bank, Bank of Japan, the ECB and even the Bank of Canada actively intervening in markets or purchases of government bonds, ETFs and corporate bonds, a tool that David would not have used back when he was Governor. |
| [57:54] | What financial advisors and investors should focus on when thinking about the Bank of Canada or thinking about their investments in areas like fixed income. |
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