Brian Lilley: Prime Minister Justin Trudeau is failing Canada and Canadians in every way imaginable right now and he doesn’t seem to see any problem.
On Wednesday morning, the Bank of Canada announced an interest rate hike of a full percentage point to try and control inflation. For anyone with a $500,000 variable rate mortgage, this latest hike will mean their monthly payments increasing by as much as $550 a month compared to what they were paying before rates started rising in March.
How is this Trudeau’s fault in any way, shape or form? Because he has been warned about inflation for more than a year now and has done nothing.
“You’ll forgive me if I don’t think about monetary policy. You’ll understand that I think about families,” Trudeau famously said last August when asked if he thought the Bank of Canada should continue to focus on keeping inflation low through interest rates and other monetary policy tools.
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