Stephanie Haughton is a mother of two and runs her photography studio from home. Today’s rate hike means her mortgage payments are going up by more than a hundred dollars. That’s similar to what she saw after the rate increase in April. Rate hikes and the expectation of more to come have already had a cooling effect on the housing market, but the impact on small businesses has just begun. Anne Gaviola explains.
- Bank of Canada open to raising key interest rate past 3%, deputy governor says
- Bank of Canada hikes key interest rate 50 basis points for 2nd time in a row