Bank of Canada deputy governor Rhys Mendes says allowing for a period of price declines may sound tempting, but it would ultimately be more painful for Canadians. His speech comes as the Bank of Canada declares victory on high inflation, but Canadians remain dissatisfied with higher prices across the economy. The Liberal government has worn much of the political blame for higher prices, to the advantage of the federal Conservatives. On Thursday, Prime Minister Justin Trudeau unveiled a plan to give a two-month GST break on a slew of items starting Dec. 14 to help with the affordability crunch. The federal government is also sending out $250 cheques to Canadians who worked in 2023 and earned up to $150,000. https://www.bnnbloomberg.ca/business/economics/2024/11/26/allowing-a-period-of-price-declines-would-be-painful-for-canadians-boc-official/