The Bank of Canada’s hefty rate hikes are finally bearing fruit, as higher borrowing costs have caused a pullback in business investment and consumer spending, making way for lower inflation in 2024.
- bionicjoey ( @bionicjoey@lemmy.ca ) 12•10 months ago
Austerity is killing people and the government is like “we cut down inflation, you should be thankful”
- blindsight ( @blindsight@beehaw.org ) 13•10 months ago
Austerity is government spending, not interest rates. They’re decoupled from each other.
Agreed, that we don’t have sufficient support, for lower-income and homeless Canadians, in particular. But the central bank did largely the right thing (I cry into my variable-rate mortgage). Interest rates needed to go up to chill inflation, and it’s possible the BoC may have threaded the needle on that perfectly.
- tarsn ( @tarsn@lemmy.ca ) 8•10 months ago
Austerity is still coming when the Cons get in next election cycle
- GrindingGears ( @GrindingGears@lemmy.ca ) 6•10 months ago
No that’s not austerity, that’s spending slashed because they need to do wholesale money transfers from public coffers to private hands. CONServative.