Inflation numbers just hiked the odds of a 75 bps hike from the Bank of Canada next week. Will that be the peak? stephhughes95 looks at how high interest rates could go inflation
Whether you are an entrepreneur or aspiring to be one, the Financial Post would like to help by answering your questions on small business in this uncertain economy. Today, we answer a question from Dilip — When can we expect Bank of Canada rates to peak?Article contentSign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
A Canadian Federation of Independent Business poll taken after the Bank of Canada raised it key rate to 3.25 per cent in September found that seven out of 10 small business owners expect interest rate hikes to have a negative impact on their operations. “While keeping inflation at reasonable levels is definitely an important policy goal, the rate increase comes at a time when 62 per cent of small businesses are still saddled with pandemic debt, for an average of $158,000,” said CFIB chief economist Simon Gaudreault when the poll was released earlier this month.
“Doing business in Canada is becoming too costly. Rising costs, compounded with interest rate hikes and difficulties finding staff, are putting business owners in a tough spot.
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FP Answers: How high could interest rates go?Inflation numbers just hiked the odds of a 75 bps hike from the Bank of Canada next week. Will that be the peak? stephhughes95 looks at how high interest rates could go
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FP Answers: How high could interest rates go?70% of small business owners are feeling the pinch of higher rates
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FP Answers: How high could interest rates go?70% of small business owners are feeling the pinch of higher rates
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