Has the Bank of Canada gone too far?
There\u2019s a growing chorus of critics of the central bank\u2019s decision to increase interest rates, as things like food and housing are keeping inflation up, and seem largely unaffected by higher rates. This comes as the Bank of Canada increased its key interest rate on Wednesday. It\u2019s the 10th time the central bank has hiked the rate since March, 2022 \u2014 bringing it to five per cent. The move is all part of an effort to rein in high inflation, but that has come down significantly since its peak last year.\n\nArmine Yalnizyan, economist and the Atkinson Fellow On The Future Of Workers, explains on today\u2019s episode.\n\nFor transcripts of this series, please visit: https://www.cbc.ca/radio/frontburner/transcripts