TORONTO – Canada is approaching recession, families are on their knees but the central bank “pulls straight” and on Wednesday tomorrow will announce yet another interest rate hike.
OTTAWA – Here we go again. The Bank of Canada will raise its benchmark interest rate by 0.75% on Wednesday: a new increase, therefore, after the 0.50% increase on June 1, when the rate was raised to 1.50. %. From Wednesday, it will be at 2.25%. The reason, as always, is that of the “fight against inflation” which in recent weeks has reached its highest level in almost 40 years: 7.7 per cent.
TORONTO – In full pandemic, after two disastrous years for everyone from a financial point of view, the City of Toronto increases property taxes by 4.4%. The City had announced it and the Budget Committee reiterated it today, unanimously, in view of the approval by the city council, scheduled for next February 17. A sort of “coup de grace” that the administration led by Mayor John Tory (in the pic above, from his Twitter profile) is about to inflict on the inhabitants of Toronto, now economically in agony after two years spent in the grip of Covid-19. (more…)
