Some fear Bank of Canada Gov. Tiff Macklem is poised to raise rates again in July in a bid to drive inflation down to its target. ‘It’s two per cent or bust,’ says one economist.
Unsure how’s the situation in Canada (nor can I check the link now), but if it’s anything like my country, maybe rates are kept high because of other, less functional parts of public management that keep forcing inflation up.
It’s not really a currency inflation. It’s artificial inflation created by corporations, especially the grocery market and pharmacy industry, that have blown up their price only because they can and nothing can stop them. Add to this the cost of housing that’s out of control and you get a dollar that’s worthless within one’s own country.
Just because other countries have runaway inflation doesn’t mean we need to as well.
