Photo by Linda McCann on Unsplash
In recent years, it’s likely you’ve heard the media, your colleagues and even politicians speak about “inflation.”
You also may have noticed prices for regular everyday items including food, gas, or larger purchases such as homes, furniture and vehicles have risen sharply since the start of the COVID-19 pandemic.
Up until a few months ago, when government officials and the media spoke about the current rise in inflation, they often defined it as “transitory”. Now, officials at the Bank of Canada are stating inflation may actually be more persistent, and have signaled the future path for Canadian interest rates may be a series of rate hikes to help bring inflation back down to within its target range of 1% to 3%.…
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