There’s a rising refrain of critics of the central financial institution’s determination to extend rates of interest, as issues like meals and housing are retaining inflation up, and appear largely unaffected by greater charges. This comes because the Financial institution of Canada elevated its key rate of interest on Wednesday. It’s the tenth time the central financial institution has hiked the speed since March, 2022 — bringing it to 5 per cent. The transfer is all a part of an effort to rein in excessive inflation, however that has come down considerably since its peak final yr.
Armine Yalnizyan, economist and the Atkinson Fellow On The Future Of Employees, explains on at this time’s episode.
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