Bank of Canada has raised its benchmark interest rate to 2.5%. Here’s what that means for Canadians

As monetary policy tightens quickly, global investors are betting that a recession will follow, which has led to a selloff in stock markets and lower prices for commodities, such as crude oil., starting in 2023. RBC economists Nathan Janzen and Claire Fan tempered their prediction by saying it would be a “moderate and short-lived” recession.

In fact, inflation is becoming impossible to avoid, with more than half of the components of the consumer price index rising at an annual rate of more than 5 per cent in May. That’s aggravating cost-of-living concerns for many Canadians. Also, higher rates make it more expensive for businesses and households to borrow money.. Commodity prices have dropped in recent weeks and transportation costs have fallen from record highs.

compared to last year. The typical Toronto home price is down nearly 10 per cent from the March peak to June.this year.

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How exactly is making our mortgages even more unaffordable going to help us? And businesses will just jack up prices to cover their own increased cost of borrowing. This is going to make the cost of living crisis WORSE. Fix the root cause of inflation, fuel & supply chain crisis.

No mention of the sudden increase in cost for the federal government to service its (phenomenal) debt; the incremental cost of today's rate rise alone will likely exceed the annual budget of many federal departments But hey, don't budgets balance themselves anyhow? cdnpoli

Two years of technocratic expertise got us here. Complete failure of medical, academic, economic and politcal leadership.

It means regular folks will suffer while elites carry on. canpoli nbpoli 🤡

Can we please hurry up and get this recession going already?

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Bank of Canada expected to raise key interest rate by 0.75% WednesdayThe Bank of Canada will make its key interest rate announcement this morning as inflation remains well above its target. Many economists are forecasting the central bank will raise interest rates by three-quarters of a percentage point. Solar powered Arena sized homeless shelters are required. Liberals financially forcing people to convert to green compliance that will get even more expensive.
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Bank of Canada expected to raise key interest rate by 0.75% todayThe Bank of Canada will make its key interest rate announcement this morning as inflation remains well above its target. 😩 Let’s continue dropping these home prices boys 📡🧠Dogecoin🔜🌖 cause FK⚠️Inflationary products and money is trash 🗑 🚫🏧🚮🛰
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