Speaking at a conference hosted by Western University's Ivey Business School in Ottawa on Thursday, the former governor warned today's economy is more sensitive to interest rates than it was 10 years ago.
The federal government along with provincial governments have responded to high inflation with measures aimed at softening the blow on Canadians' finances.
Inflation has been heading lower in recent months, but Canadians likely haven’t noticed as gas prices went up and grocery costs continued to soar last month.