What Bank of Canada's latest interest rate hike could mean

[Wise]

What Bank of Canada's latest interest rate hike could mean

Global News on Youtube shows that the Bank of Canada raised its key interest rate by 50 basis points to 3.75 per cent on Wednesday, as the i...

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Global News on Youtube shows that the Bank of Canada raised its key interest rate by 50 basis points to 3.75 per cent on Wednesday, as the inflation battle continues and Canadians continue to feel more strapped financially. Anne Gaviola reports on what the latest interest rate could mean for your wallet as the institution continues to try and cool the economy and bring inflation down.

 

[harrylee]

Welcome to 1981.

 

[Wise]

Interesting. Canada's annual inflation rate slowed to 6.9% in September of 2022 much below the 39-year peak of 8.1% hit in June but slightly above market estimates of 6.8%.

The Daily — Consumer Price Index, September 2022 - Statistique Canada​

 

[Ron in Regina]

Perspective.

Bracketing both ends of the above graph are Trudeau’s.

 

[Tecumsehsbones]

Reckon it just might could mean it'll be more expensive to borrow money.

 

[petros]

I could also mean "dont elect a Trudeau".

 

[Taxslave2]

Reckon it just might could mean it'll be more expensive to borrow money.

The bright side is that deposits are finally earning a bit of interest still below the rate of inflation but a bit of money trickling in

 

[Tecumsehsbones]

The bright side is that deposits are finally earning a bit of interest still below the rate of inflation but a bit of money trickling in

So folks' financial ships are sinking a mite slower?

Yippee.