Only reading headlines and the first few sentences of a news story from just one source can influence how and what a person perceives to have happened.
Case in point, yesterday the Bank of Canada issued a Monetary Policy Report.
Here are the highlights of that report taken directly from the Bank of Canada website.
“Tighter credit conditions, weaker external demand, and sharply weaker commodity prices have lowered the outlook for Canadian growth and inflation.
Growth in Canada will be sluggish through the first quarter of next year, then pick up over the rest of 2009 and accelerate to above potential growth in 2010.
Total CPI inflation is projected to fall below 1 per cent in mid-2009 before rising to 2 per cent by the end of 2010. Core inflation will remain below 2 per cent until the end of 2010.
Policy-makers in major countries have taken bold actions to address the financial crisis and its effects on the economy. Canada's economy and strong financial system will benefit directly from these actions.
The policy rate has been lowered by a total of 75 basis points this month, 225 basis points since the beginning of December 2007. Some further monetary stimulus will likely be required to achieve the 2 per cent inflation target over the medium term.
The risks around the revised base-case projection for inflation are judged to be roughly balanced, but the outlook is subject to greater uncertainty than usual."
And now the headlines and opening sentences from three different news sources.
Please note the time each story was posted.
Bank of Canada sees sluggish growth until 2010
Last Updated: Thursday, October 23, 2008 11:54 AM ET
"Canada's economic performance is expected to be sluggish through the first quarter of next year, the country's central bank said Thursday.
In its Monetary Policy Report, the Bank of Canada said growth is expected to pick up over the remainder of 2009 and to shoot to "above-potential" in 2010, as credit conditions improve and interest-rate cuts take hold."
Economy to rebound by 2010: Bank of Canada
Updated Thu. Oct. 23 2008 12:42 PM ET
CTV.ca News Staff
"The Bank of Canada predicts we will avoid a recession -- but just barely -- and says growth will be slow and insignificant for the foreseeable future.
In its October Monetary Policy Report, the central bank said the global economic slowdown is having a sharp impact on Canada's economy. "
The Globe and Mail
Economy on edge of recession: Bank of Canada
Globe and Mail Update
October 23, 2008 at 12:43 PM EDT
"OTTAWA — The Bank of Canada says the Canadian economy is on the razor's edge of recession, and a full recovery is dubious and distant.
In a blunt 32-page assessment of the global and Canadian economies that is devoid of good news, the central bank says Canada's economy is contracting right now, and won't show any growth in the first quarter of next year."
So in 49 short minutes depending on WHICH news source published the SAME news story; we the Canadian public will have sluggish growth---no no--a rebounding economy----no wait-- we are on the razor's edge of a recession.
Read more than just headlines and opening sentences, from a variety of different news sources, to get an un-biased opinion on what is really happening in the news.
Perhaps if more people took this advise; our countries would be in better shape than they presently are.