They Raised the Interest Rate.....Now What?
They finally did it. After seven years, the Bank of Canada raised its rates to 0.75%. So what now?
HuffPost Canada business editor Daniel Tencer outlined what the rate hike could mean for most Canadians. If you're carrying debt in the form of variable-rate mortgages or lines of credit, the next few weeks would be a good time to review your finances to make sure that the new rates won't stretch your budget.