The last four-plus years have been a rollercoaster for millions of Canadians.

The pandemic, which began in early 2020, quickly led to mass layoffs (most temporary) and widespread disruptions to normal life. This was accompanied by hiccups in often-fragile global supply chains, subsequently aggravated by the Russia-Ukraine war.

In response to these developments, governments and central banks provided unprecedented amounts of fiscal and monetary “stimulus” over the course of 2020-21.

All of this set the stage for skyrocketing inflation and a cost-of-living crisis in many countries. As in most peer jurisdictions, inflation and living costs jumped in Canada, beginning in late-2021 and accelerating throughout 2022.

Faced with the highest inflation in four decades, the Bank of Canada belatedly responded with dramatic interest rate hikes in 2022 and the first half of 2023. The central........

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