Bank of Canada 8th interest rate hike in less than

Bank of Canada: 8th interest rate hike in less than a year?

On the eve of the Bank of Canada’s interest rate announcement, many economists fear that another hike will slow Canada’s economy even further.

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If there is a rate hike on Wednesday, it would be the eighth in less than a year.

In this context, Federal Finance Minister Chrystia Freeland promises to remain cautious with her next budget, which is expected in March or April.

Ms Freeland was in Hamilton last Tuesday as part of a retreat with members of Prime Minister Justin Trudeau’s cabinet, where several economists presented their forecasts of a significant slowdown in Canada’s economy.

“It has several interest rate effects that we haven’t seen before,” says Carolyn Wilkins of Princeton University.

“Especially since we have a population in Canada that is so indebted that every interest rate hike is felt very badly,” she explains.

Canadian Heritage Minister Pablo Rodriguez ensures the government makes the economy its priority and understands the realities of Canadian people.

“Before we are ministers, we are human beings,” he explains. “We fill up on gas, we buy grain; We know what is happening: we are working on it.”