This is neither the first nor the last time that politicians have and will use the Bank of Canada as a political football. It’s really quite bad for the economy when they do so. The last thing we want is a partisan Bank where half the country has lost confidence in it.

Of course, that doesn’t mean we are forbidden from being critical of the bank. In those moments we ought to turn to economists, and not politicians, to inform us on what the correct policy should be.