Inflation is wreaking havoc on everything from grocery bills to monthly mortgage payments. Now at 8.1%, Canada’s sky-high inflation rate has become impossible to ignore. So have its potential ramifications. A new blog post from the International Monetary Fund (IMF) highlights the dramatic extent to which inflation is impacting monetary policy — and the potential urgency
The Bank of Canada announced yet another interest rate hike at its meeting on Wednesday, accelerating the pace even further with a 100 basis point increase to their policy rate. This increase marks the largest rate increase in more than 20 years as the bank works to rein in inflation.
Canadians are about to see interest rates they didn’t think were possible in just a few days. BMO made revisions to its overnight rate forecasts this week. At next Wednesday’s meeting, they’re calling the largest rate hike in two decades. That will bring interest rates (and your borrowing costs) to the highest
Canadian homebuyers are well aware that the cost of borrowing is rising — but nearly half aren’t entirely sure what that means for their bottom line, according to a new survey. Conducted by TD, the poll of 2,000 Canadians found that four in 10 (38%) agree they “are confused about
Whether or not the economy is set to experience a recession is a growing question in the minds of consumers and economists alike. However, it’s clear that rising interest rates are set to cool both the housing market and consumer spending, while other key indicators are starting to flash warning