This information has been prepared by Ryan Smillie, Associate Portfolio Manager for iA Private Wealth and does not necessarily reflect the opinion of iA Private Wealth. The information contained in this video comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any of the securities mentioned. The information contained herein may not apply to all types of investors. An Investment Advisor/Portfolio Manager can open accounts only in the provinces in which they are registered. iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada. iA Private Wealth is a trademark and business name under which iA Private Wealth Inc. operates.

Featured in the video:
Ryan Smillie CFP®, CIM®
Associate Portfolio Manager
Luft Financial, iA Private Wealth,
* Insurance Advisor, Luft Financial Inc.

0:00 – Opening
0:17 – Disclaimer
0:26 – Ryan Smillie Introduction
0:36 – Luft Financial Team Introduction
0:45 – Definition of Inflation
1:01 – BOC Target Rate Inflation
1:26 – Factors of Inflation
1:40 – Monetary Aggregates
1:58 – Prime Rates
2:32 – Higher Rates/Higher Costs
2:55 – Peak Inflation & Relief
3:37 – Closing Remarks…(read more)

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As we enter the year 2023, inflation continues to be a topic of great concern for the global economy. After a tumultuous period in the wake of the COVID-19 pandemic, countries around the world are grappling with persistent inflationary pressures and rising prices that threaten to erode consumer purchasing power and hamper economic growth.

In Europe, the Eurozone is entering its second year of inflation above the European Central Bank’s target of 2%. While this is largely driven by higher energy prices, the ECB is also closely monitoring how the pandemic continues to impact the economy and affect prices across different sectors. Meanwhile, the UK is facing its highest inflation rate in a decade, with price hikes in many areas including food, fuel, and housing costs driving up the cost of living for citizens.

In the United States, inflation has been a major economic issue throughout 2022, with a notable rise in prices of goods and services in sectors like food, energy, and housing. Although the Federal Reserve initially viewed this inflation surge as transitory, it has become apparent that the impact may be longer-lasting. As a result, the Fed has begun to taper its bond purchases and is gradually raising interest rates to combat inflation.

In the Asia-Pacific region, inflation is a mixed bag. India is seeing a rise in prices due to supply chain disruptions and higher energy costs, while Japan is dealing with a stubborn deflationary threat. China, on the other hand, has seen inflation rise due to supply chain issues and increased consumer demand.

Overall, the global inflation outlook in 2023 remains uncertain. On the one hand, the ongoing pandemic and its impact on global supply chains could continue to push up prices. On the other hand, central banks around the world are taking steps to tighten monetary policy and reign in inflation. However, this could also have broader economic consequences, such as slowing down growth and increasing unemployment.

In the face of these challenges, policymakers around the world need to take a balanced approach to managing inflation. They must remain vigilant and take swift action to address inflationary pressures, while also ensuring that economic growth and employment remain a priority. Ultimately, the success of these efforts will depend on a global collaboration and commitment to tackling inflation in a coordinated and sustainable manner.