Interest in Rates: Almost half want BoC to take wait-and-see approach before raising interest rates further
31-year high
A new study from the non-profit Angus Reid Institute finds approaching half of Canadians say they would like the country’s central bank to hold firm atand see how that affects inflation before taking further action. One-quarter would continue to increase the rate in a more aggressive attempt to mitigate rising prices, while half that number say that they would keep rates low as they worry about the impact any changes may have on the housing and investment markets.
As the BoC debates further rate hikes this summer to ease inflation, Canadians expectations are more negative now than they have been over the last decade. Nearly three-in-ten say that they expect to be worse off financially by this time next year – a seven-point increase in the number who said this last year, and the highest mark recorded in 13 years of tracking.
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