The Russian invasion of Ukraine has sent oil prices skyrocketing to their highest level since 2008. In fewer than 10 days, oil prices have increased by 30%, surpassing our recent base-line model for a 20% oil price shock, which we estimated would push inflation above 10% this year. Despite such a ... READ MORE >
energy shock
The impact of an energy shock on Canada’s economy
As geopolitical conditions worsen and the human toll of Russia’s invasion of Ukraine mounts, the economic impact is rising as well, especially on global energy markets. Though the impact on Canada’s gross domestic product will be minimal thanks to Canada’s strong energy industry, consumers and ... READ MORE >