this post was submitted on 11 Jul 2023
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Then why the hell does the BoC continue to raise the gd interest rates ffs?
On a personal note I have an appt scheduled today with my bank to try and work out some kind of deal ... the first step towards bankruptcy. :/
Largely because there is too much household debt (which helps drive inflation). Higher rates incentivizes people to take on less debt.
Because BoC's mandate is to limit inflation. Affordability isn't their problem.
And further to that, they have very few tools at their disposal - interest rates being the main (and most effective) one.