Monday, August 07, 2017

No Wage Raise, Other Prices OK

The Bank of Canada raised its interest rate from 0.5 per cent to 0.75 per cent, on July 12. This was its first increase in nearly seven years. The hike was caused by expectations of stronger economic growth in 2017. It will raise the cost of mortgages, lines of credit and other loans linked to the prime rates of Canadian banks. 

What it will not raise are wages and salaries. 

John and Steve.

No comments: