The Bank of Canada raised its key interest rate for the first time since July 2023 Wednesday to tamp down inflation, a hike Ontario Premier Doug Ford panned as 'a massive mistake.'

cross-posted from: https://lemmy.ca/post/73057753

The Bank of Canada raised its key interest rate for the first time since July 2023 Wednesday to tamp down inflation, a hike Ontario Premier Doug Ford panned as “a massive mistake.”

“Higher rates won’t get oil moving through the Strait of Hormuz or lower tariffs on Canadian businesses. They will only make life more expensive for Canadian families and workers, punishing them for something they can’t control,” Ford wrote in a tweet before the announcement was made this morning.

  • SaveTheTuaHawk@lemmy.caEnglish
    4·
    9 days ago

    Sure Doug, keep cutting revenue streams like Licence validation then feel your butthole pucker when you run up a $17B deficit and interest rates are going up.

    Maybe a grade 12 grad was not the best idea to run a $1T economy?

    • quanin@lemmy.caOP
      2·
      9 days ago

      I don’t think his high school education is the problem. I’ve known some pretty smart people who only had a high school education.

      Now, I’ll point you to where the problem is. He says he wants to run the government like a business. Okay, valid. Now look at how he ran the last business he owned.