The Bank of Canada’s economy conundrum

The Bank of Canada’s goal of lowering inflation is having a noticeable impact on the economy, says IG Wealth Management’s Assistant Vice-President, Investment Strategy, Ashish Utarid. Higher interest rates have increased mortgage costs by as much as 30%, which in turn are contributing to current inflation levels. Ashish explains how this has all led to reduced consumer spending and an economy that’s been practically stagnant for the past four months.