"That has been a factor keeping monetary policy accommodative so late into the [economic] cycle, even as these economies appear to be operating at full capacity." Economists, however, doubt central banks will raise interest rates rapidly or substantially to anyone's surprise. Economists say the triggers could be much different this time around, because every economic cycle looks different. Royce Mendes, senior economist at CIBC Capital Markets, added that central banks may not have enough ammunition this time to revive the economy, considering how low interest rates still are. Past recessions in Canada and the U.S. have required the central banks to cut interest rates by a lot more than they have the capacity to do right now, he said.

Source: CBC News September 15, 2018 08:00 UTC