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Terence Corcoran: Bank of Canada is back on track

Prices under control via the only policy that works: monetary policy

For several years the leading issue on the minds of Canadians has been the rising cost of living, with food and housing emerging as the priorities on the list of boxes ticked by voters polled before and during elections. Politicians and activists have scrambled to blame corporate price-gouging and other factors for driving up prices across the economy.

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In British Columbia, former premier David Eby and his Conservative successor, Lorne Doerkson, both promised to tackle the affordability crisis. Cost of living was a leading topic during the Toronto mayoral race, with national politicians such as Conservative Leader Pierre Poilievre joining the fray. Nationally, a new October Abacus poll put cost of living as the leading issue for 65 per cent of Canadians.

It may take a while — a year or........

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