Statistics Canada said Wednesday that higher mortgage rates are helping fuel the latest high inflation data. Here's how the relationship between interest rate hikes and inflation could play out in Canada.
Statistics Canada said Wednesday that higher mortgage rates are helping fuel the latest high inflation data. But aren't higher rates supposed to lower inflation?
But that's not happening, he said. Instead, they're simply balancing each other out, with mortgage interest costs rising 11.4 per cent over last year, while the index tracking home prices was down 11.1 per cent over last year. Wages are rising too, but not as fast as inflation is. So why do some people think higher wages could make inflation worse, when pay is struggling to keep up?
CIBC chief economist Avery Shenfeld said in a note to clients Wednesday that he'd expect to see a half-point hike from the central bank at its December interest rate announcement.IS INFLATION STICKING AROUND FOR THE LONG TERM?
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