The Bank of Canada has raised interest rates three percentage points so far this year, with more to come
There is little doubt that the Bank will hike its key interest rate, withA poll by insolvency firm MNP Ltd. out today found that a record number of Canadians are worried about the impact of rising rates on their financial situation. The 59% or six in 10 Canadians who expressed concerns are the highest since the survey began tracking data in 2017.three percentage points, with more to come, making it one of the fastest monetary policy tightening cycles in its history.
If the Bank raises its rate by 75 basis points, the new rate of 5 per cent will cost $249 more a month or $2,988 a year.Economists at Desjardins expect the latter, but they also question whether that is the right path.“Monetary policy works with significant lags, so using current data to guide decisions is dangerous and almost guarantees an overshoot,” Royce Mendes, Desjardins’ head of macro strategy, wrote in a note Friday.
Both have high household debt ratios and their mortgage markets are structured so that households feel rising interest rates quickly, Mendes said. In fact, housing represents an even bigger share of Canada’s economy, making it especially sensitive to rising rates.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
Posthaste: Bracing for the next interest rate hike, Canadians are feeling the pinch like never beforeSix in 10 Canadians worried about impact of rising rates
اقرأ أكثر »
Posthaste: Bracing for the next interest rate hike, Canadians are feeling the pinch like never beforeSix in 10 Canadians worried about impact of rising rates
اقرأ أكثر »
Posthaste: Bracing for the next interest rate hike, Canadians are feeling the pinch like never beforeSix in 10 Canadians worried about impact of rising rates
اقرأ أكثر »
Posthaste: Bracing for the next interest rate hike, Canadians are feeling the pinch like never beforeSix in 10 Canadians worried about impact of rising rates
اقرأ أكثر »
Six people charged in four separate shootings in Peel RegionSix people have been arrested in connection with four separate shootings in Peel Region over a three-month period.
اقرأ أكثر »