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Expect interest rates to remain high until 2025: former BoC governor (www.bnnbloomberg.ca)
submitted 1 year ago by sik0fewl@kbin.social to c/canada@lemmy.ca
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A prolonged period of heightened interest rates will be critical to Canada’s central bank reaching its inflation target, a former Bank of Canada Governor said.

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[-] Sir_Osis_of_Liver@kbin.social 4 points 1 year ago

No sense of context. The BoC prime rate was right around 5% or higher from 1960 until 2008 or so. The all time high overnight rate was a bit over 18% in 1981 IIRC.

The rates are "high" now only relative to the record low rates we had prior to covid.

this post was submitted on 02 Aug 2023
37 points (97.4% liked)

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