this post was submitted on 03 Sep 2023
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Why the fuck another hike? The country's economy had a net regression for the first time in years. Houses, food and rents prices are unhinged. Another hike won't do anything to help this.
Higher interest rates lower inflation. That is why the BOC has been rising them
The main goal of central banks is keeping inflation around 2% per year, even if that causes a recession.
Inflation isn't determined solely by mortgages.