14 Dec

Carney warning of rate hikes

General

Posted by: Rabinder Dhillon

Interest Rate Rise Effects May be Sharp: Carney

Bank of Canada governor Mark Carney repeated warnings to Canadian households and businesses Monday: don’t be lulled by current low interest rates, because repercussions from a hike could be swift.

In a speech to the Economic Club of Canada in Toronto, Carney said efforts by various governments to stimulate the economic recovery are keeping borrowing rates low.

When rates do begin to rise again, Carney Said, the repercussions may be fierce and have the potential to catch many with debt loads they can no longer afford.

Click here to read the full CBC News article