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Historical Year Data · 1979

Canada Credit-to-GDP Gap in 1979

Canada Credit-to-GDP Gap opened 1979 at 7.6 and closed at 7.5, a -1.32% move for the year. The high of 8.1 was reached on June 30, and the low of 7.5 on December 31.

Open
7.6
1979-01
Close
7.5
4 data points
High
8.1
Jun 30
Low
7.5
Dec 31
Full Year Change
-1.32%
1978 Change
+15.00%

Monthly Breakdown

MonthOpenCloseHighLowChange
Mar7.67.67.67.6+0.00%
Jun8.18.18.18.1+0.00%
Sep8.18.18.18.1+0.00%
Dec7.57.57.57.5+0.00%

Events During 1979

1979 Volcker Shock
Stagflation
October 1979 – August 1982

Paul Volcker's Fed raised interest rates to 20% to break entrenched inflation. The policy triggered the deepest post-war recession but ended the stagflation era and established inflation-targeting credibility.

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