Despite getting through the worst of the pandemic, Deputy Prime Minister Chrystia Freeland says Canadians are “not out of the woods yet” and should brace for a number of economic “bumps” ahead due to high inflation and interest rates.
Speaking to reporters in Mississauga, Ont., on March 8, Freeland addressed the Bank of Canada’s pause on interest rate hikes announced earlier the same day.
“Of course, there are going to be bumps in the road ahead,” Freeland said, adding that the country has “come out the other side” of the COVID-19 pandemic, which she called a “huge, gaping chasm.”
“We’re not out of the woods yet,” Freeland added. “Inflation is still too high and interest rates are really high, and have gone up extremely fast—these are real challenges for Canadians.”…