Bank of Canada + interest rates

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PAOV — Many Canadians are worried they’re about to lose their homes. This morning, the Bank of Canada delivered another large interest rate hike. As the fastest rate-hike cycle in Canadian history continues, homeowners are struggling to keep up with increasing mortgage payments, paying hundreds of dollars more each month. Thousands of people are urging the government to intervene and provide relief from rising rates. You can help by adding your signature.

Home Owner’s Relief | Aide aux propriétaires de maison

31,312 have signed BC Inflation’s petition. Let’s get to 35,000!

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The Bank of Canada continues to raise interest rates at a staggering pace and not allowing Home Owners to adjust accordingly. Further, the BC
Provincial Government has taken measures such as 2% rent increase cap without any counteracting measures to provide relief to Home Owners so that the Home Owners could also have a fighting chance against inflation. The Bank of Canada should come up with other strategizes instead of flatly and across the Board increasing the BoC’s Overnight Rate. The Federal Government and the Bank of Canada are simply waiting for hard working Home Owner Canadians, who borrowed to buy a home as a responsible and productive member of the economy and the Canadian Society, to go under before they think of meaningful strategies?! We urge you to sign this petition and letting the Government along with the Bank of Canada know that they are hurting Canadians in their rapid response to fighting inflation, instead of looking at alternative ways to help bring Canada out of this situation. The Government and Bank of Canada must understand that the current debt levels of Canadians are out of their control. External global factors affecting the economy are unique factors of the current Canadian society which cannot simply be balanced by old methods/simple strategies as they have been been implementing in the past. Government and Bank of Canada must change and develop new strategies of different slabs regarding overnight interest rates for the residential, commercial, agricultural, and other line of credit products to help fight the current inflation situation. This should be done in a way that gives HOME OWNERS a relief of a reasonable (bearable) residential overnight interest rate which ultimately allows the HOME OWNERS a fighting chance against the current inflation!

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