“Let’s enjoy the moment.” Tiff Macklem Last week, the Bank of Canada (BoC) became the first of the G7 central banks to cut rates, lowering the overnight level from 5% to 4.75%. The decision was widely anticipated (i.e., 80%) and one we think was relatively easy for them to make. The 5% level was proving […]
Anchors Aweigh | June 2024
“60 percent of the time, it works every time.” Brian Fantana in Anchorman Of the many cognitive biases, the ‘anchoring effect’ is often cited as one of the most important and common. It is our tendency to overemphasize a reference point or initial piece of information we receive, even if they are otherwise irrelevant. There […]