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Rents dwarf minimum wage in every province. Rising interest rates aren’t helping

3 years ago by Cryst to c/britishcolumbia

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Minimum wage workers are increasingly unable to make ends meet in Canada's rental markets, a new report shows, a struggle only made worse by pressure from higher interest rates.
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pectoralis 10 points 3 years ago

But raising interest rates is the only way Bank of Canada knows how to decrease inflation. It's obvious that the citizens are causing inflation that is hurting businesses. /s

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ImplyingImplications -5 points 3 years ago

I'm not sure what the /s is for. The Bank of Canada controls interest rates and nothing else. Changing interest rates is essentially all they do. And citizens are definitely the ones causing inflation, unless you believe military personnel are responsible somehow.

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pectoralis 14 points 3 years ago

Consumers aren't causing inflation. Corporations are causing it. The issue isn't Canadians spending too much money on luxuries, they are spending too much on rent, groceries, and other necessities. Bank of Canada is kicking Canadians who are already struggling. What a giant fuck you to consumers. You are right, the government is responsible for not doing something about the corporate profits.

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