Although this week’s announced interest rate hike by the Bank of Canada (BoC) will make things even tougher for Canadians amid rising mortgage rates and tight budgets, there are a number of ways people can ride out this period and manage their finances.
“One thing Canadians can do is make a budget plan. Do not get caught off guard. Make trade-offs to cover essentials,” Canada’s first Parliamentary Budget Officer Kevin Page told The Epoch Times.
On July 12, the BoC raised its key interest rate by another 25 basis points, from 4.75 percent to 5 percent, bringing it to the highest level in over 20 years….