Bank of Canada targets inflation expectations with full percentage point rate hike

but says “domestic demand pressures are becoming more prominent.”said “further excess demand has built up,” allowing businesses to pass more of their cost increases on to consumers.

In a recent analysis published by the Canadian Centre for Policy Alternatives, economist David MacDonald warned that rapidly increasing rates would likely trigger a recession that could cause “collateral damage.”is heading for a “moderate” recession that will be short-lived. “That is an important reason why we took stronger action today to front-load the policy interest rates,” he said.

Glad they are keeping their promises.... Oh snap...

This has never worked and it still won’t work

They printed money, and inflation is the consequence. There is no such thing as free money.

Wow! This must be the first experience of high inflation for some people. The economy works in cycles. This must be the first time some people to witness a rise in interest rates. I am surprised that some people have been caught off guard by the interest increase.

Suppose JustinTrudeau is trying to bankrupt everyone in Canada except his little band of liberal_party members?

Love not having an economic policy

Ohhhh yeaaaa baby !!!!! That’s good for few.

TrudeauMustResign

They said they won't know for 12 months if it'll help. Oh they know. They know that it will cause a depression and the housing market will drop drastically. All done on purpose so they keep getting rich while people suffer

Those baboons at the bank of Canada are out of touch with reality.Putting the interest rates at that skyrocket hike, will put the country into a recession period.

We don’t have inflation CAuae the people are living to well. We have inflation CAuae the government is living to well. Time for the government to take pay cut and work longer than 2 weeks a year

Will not help the average person but sure will help the the assholes at the banks make more money. Nothing like paying are corrupt bankers and government officials

Federal massive debt spending is the cause of inflation in Canada - Canadian doing it Sri Lanka style.

Will this move make gas and groceries more affordable?

Stupid authorities don't understand what caused inflation. Can rate hike lower the gas and food prices ?

Increase it to 7% so I can buy a condo

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