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Canada raises interest rates: What's behind this decision, and how can middle-class Canadians cope?

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The Bank of Canada responded to continuing inflation with another quarter per cent hike to its benchmark interest rate Wednesday.

The move is designed to help prevent the inflation rate from getting stuck above the bank’s two per cent target but the higher rates will have an impact on families already struggling to make ends meet.

So how do families already feeling the financial pinch of inflation deal with the cost of this interest rake hike? We break down some simple tips and tricks for families looking to squeeze a little more out of their budgets.

For more info, please go to https://globalnews.ca/news/9753136/bank-of-canada-interest-rate-hike-cost-of-living-worry/

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Category
News and politics
Tags
global news, Inflation, Bank of Canada

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