Albertans feeling the pinch as Bank of Canada hikes key interest rate | Globalnews.ca

, nearly seven in ten people in Alberta say they are already feeling the effects of interest rate increases and one-third are cutting back on essentials such as food, utilities and housing.

“When was the last time we did it? And it’s probably not looking the same with the rising interest and rising costs of everything.”Nichola Tremblay and her husband own a home in St. Albert. She is a full-time nurse, her husband works three jobs and they have three kids.They have a variable rate mortgage and Tremblay said their payments will likely increase.

“City taxes have gone up, utilities have gone up, obviously our wages are not going up. There are things we have to cut back on as a family of five to accommodate keeping a roof over our head.” “They want reassure that ‘OK what does this mean with my rate increase? How much are my payments going to go up? Should I lock in?,” Borle said.

Well if you eat the smallest family member first it helps with costs

Only ones that score are big banks!

Maybe government should start cutting back on spending. $30 million for the Popes visit.

As expected, population has to suffer and pay politicians lack of vision and mistakes. Bank of Canada should be included, unpardonable mistake not to see rampant inflation ahead of time with all data required in front of them.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘A big shock’: Canadians feeling squeezed by Bank of Canada’s interest rate hikes - National | Globalnews.caWednesday's surprise Bank of Canada one per cent interest rate hike is putting continued pressure on homeowners who are seeing increases to their mortgage payments. Great form Same Canadians who are complaining are the one's who are continually voting Liberal over and over again Rates aren’t that high. In the early 1980’s they were close to 20%.
Source: GlobalNational - 🏆 81. / 51 Read more »

Bank of Canada hikes interest rate to 2.5% — biggest jump since 1998 | CBC NewsThe Bank of Canada raised its benchmark interest rate by the largest amount in more than 20 years on Wednesday, sharply increasing the cost of borrowing in an attempt to rein in runaway inflation. But journo_dale said raising rates would harm the economy.... it's transitory Poll: Should the bankofcanada be blamed for a recession? Pierre poilievre 👌
Source: CBCNews - 🏆 2. / 99 Read more »

Bank of Canada hikes rate to 2.5% in bid to crush inflation - BNN BloombergThe Bank of Canada hiked interest rates by a full percentage point, a surprise move that supercharges efforts to withdraw stimulus before four-decade-high inflation becomes entrenched. Front load? Why didnt they do that months ago? Get a better translator that doesn't repeat or studder!! Official policy: Break everything.
Source: BNNBloomberg - 🏆 83. / 50 Read more »