As new interest rate hike expected, Albertans feeling the impacts hardest: report yyc
“I think most people have trimmed the excess as much as they can, but if you cut back on your grocery budget, but then the cost goes up again next month, you have to change your budget again next month,” said Carson. “Budgets evolve, they’re not a static thing.”
The current rate has increased 450 basis points since March 2022 after being one per cent or lower for most of the past 13 years. But he was not sold on the need for a potential hike, and said the Bank of Canada is in a stage of being overly cautious. Carson said this was not so much due to increased sales but inflation pushing the price of goods higher.Article content
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