The Bank of Canada is set to make an interest rate decision early next month.
Eby wrote that a Statistics Canada update last month stated that the largest contributor to inflation in Canada was mortgage rates.
The Bank of Canada announces its key policy decision, the setting of interest rates, eight times a year. The letter to Trudeau said a focus on such key sectors will have long-term anti-inflationary benefits while growing the economy and improving productivity. Eby’s letter to Macklem said unnecessary further interest rate increases pose a danger not just to homeowners looking to renew mortgages but to renters, students, seniors, families and small business people looking to pay bills, just as they start to recover from the COVID-19 pandemic.Article content-based venture capitalist, said further interest rate increases will hit most Canadians and affect future growth and investment plans of businesses and governments.
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