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Bank of Canada raises its interest rate to 5%
(www.cbc.ca)
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this post was submitted on 12 Jul 2023
186 points (98.4% liked)
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I’m concerned the BoC is eating gummies for the first time. Me thinks they should increase lead times with each subsequent rate hike, lest the compound impact hits all at once, which it already will. I’m wondering if this is all going to slam into a wall, forcing them to rapidly and dramatically slash rates.
Diamond hands on variable rate hoping for exactly this to happen so I can lock in when they do slash lol
Godspeed to you - I hope you're not feeling regarded in a couple of years