Monday, May 30, 2022

Big interest rate hike expected

Analysts are expecting an interest rate hike of half a per cent when the Bank of Canada makes its regular announcement Wednesday. 


The interest rate hikes have already had an effect on real estate sales and prices and that is likely to increase.


The hikes will also make loans more expensive, hitting the pocketbooks of farmers who borrow to plant crops or replace flocks and herds such as chickens, turkeys and hogs.


Whether it will bring down inflation leaves questions of when, for what commodities and services and by how much.