The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent. It’s the first hike since July 2023. The central bank wants to control inflation by reducing the risk that high fuel prices could spill over and seep into the overall economy.

OTTAWA — OTTAWA - The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent. It’s the first hike since July 2023. The central bank wants to control inflation by reducing the risk that high fuel prices could spill over and seep into the overall economy.

    • potatomuncher@lemmy.ca
      4·
      6 days ago

      Should’ve gone the Pleb route like half the population.

      Mortgage rates don’t affect you if you can’t even afford to become a part of “homeowner” class.

      We’ll own nothing and serve the oligarchs that own and control Canada:)

    • lobut@lemmy.ca
      1·
      6 days ago

      did you lock in a rate yet?

      I’m renewing in six months and I’m getting fixed for 3 years.

      • definitemaybe@lemmy.ca
        3·
        5 days ago

        I wouldn’t do that, if you care. See my comment above for my reasoning. Variable is the right choice right now, imho.