Get Ready For 3% Interest Rates Hints Bank Of Canada Governor

Stephen Poloz says more rate hikes – and possibly faster than previously expected – are on the way.

A recent survey showed that a whopping 33% of Canadians fear going bankrupt if interest rates rise further.

The survey made it clear that the so-called ‘strong economy’ claimed by Justin Trudeau and the increasingly discredited Stats Canada manipulated numbers is nothing but a mirage, and the real economy is actually doing horribly for Canadians.

And yet, it seems that Stephen Poloz – the head of the Bank of Canada – is preparing to raise rates much higher.

As reported by BNN, “Bank of Canada governor Stephen Poloz wants Canadians to get used to the idea of three per cent interest rates as the new normal, now that the era of rock-bottom borrowing costs is gradually fading away.”

Unfortunately, Poloz is buying into the deceptive spin that claims the economy is somehow doing well:

“He sent signals that future hikes could arrive sooner than previously expected, in large part due to the economy’s resilience and the removal of some business uncertainty following the recent agreement on an updated North American trade pact.”

The problem is that Poloz and the ruling class appear to be far too focused on how the economy is doing for the elites, rather than focusing on the experience felt by most Canadians.

The reality is that endless tax hikes, the destructive carbon tax, the investment collapse, over-regulation, and our falling competitiveness, combined with world-record high household debt – all point to an economy that is in serious trouble, and can’t absorb higher interest rates unless there are massive tax cuts and massive reductions in regulations.

Spencer Fernando

Photo – YouTube

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Don Taylor
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Don Taylor

Turdeau and his Zombies are the ruination of our country that was doing great under Harper and his conservative govt,Turdeau should be in prison for always lying about this is what Canadians want, he hasn’t got a clue about what Canadians want,they certainly don’t want our country going broke because of this fool Turdeau

Norbert Kausen
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Norbert Kausen

Interest rates have to go up. They have been down for so long, the economy has stagnated for a long time. The only thing “driving” the economy is real estate and THAT is o sad one-trick pony! Most people can not afford their houses to begin with and only take on exorbitant mortgages because they are conned into believing their homes are an investment… which they are not! The banks, the lenders own the property, and it is inevitable that interests will have to rise. Housing is nothing more than a bubble that has been pushed to inflate to the… Read more »

Ed PEEBLES
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Ed PEEBLES

Does The Bank Of Canada Governor Smoke a Lot of Marijuana and other Dope !

doug
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doug

And here we go. Just like when pet was in power. up up up the rates will go. people were stupid back then with him & now it seems they are stupid about groper boy. sure hope the eastern idiots are happy with what they voted for themselves.

Jen
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Jen

During the 70s, bank interest were at 15% thereabouts. Many with home mortages were unable to pay which lead them to abandon their homes without paying.

shawn harris
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shawn harris

With the Bank of Canada’s statement that we should be getting use to seeing higher interest rates, then it becomes more like back to the future, 1970s Trudeau style, with very high rates of interest rates, inflation and unemployment. After all what better way to collapse an economy, especially Canada’s economy, an economy already suffering under high taxes, regulations,with an anti business , anti investor , Liberal state sanctioned, loud and clear message, that Canada is now closed for business. Remember, that after Pierre Trudeau had finished trying to turn Canada into his own personal socialist, communist state: Canada was… Read more »