Professor Vivek Dehejia speaks to the Canadian Press wire service about the impacts on average Canadians of the Bank of Canada’s recent 100 basis point rate hike in the midst of high inflation.  See below for an excerpt featuring Professor Dehejia’s interview:

“As Canadians face a double whammy of skyrocketing inflation and the largest interest rate hike seen in 24 years, one expert is warning that prices won’t be coming down anytime soon.

Carleton University economics professor Vivek Dehejia says there may be “some relief” in sight, but not a whole lot, and expects a “tough six months to a year for average Canadians’.

He says the pressure points that played a big role in pushing inflation to a near 40-year-high “are still in play”, namely ongoing supply chain disruptions, labour shortages and the war in Ukraine, which is driving fuel and food prices up with no end in sight.”

For a link to the full article, click here.