“There’s so much more at play,” said Donald.
Donald questioned the premise for higher interest rates, noting much has changed since “our economics textbooks told us that if we trade openly with our trading partners, prices come down and that’s good for everyone.” The Bank of Canada’s interest rate hikes have so far been effective at bringing inflation down from 40-year highs. The, which measures inflation, peaked at 8.1 per cent in June and the latest data showed growth slowed to 4.3 per cent year over year in March.
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