Interest Rate Jacked While JustinFlation Forces Canadians To Take On More Debt Just To Get By

OTTAWA, ON - Candidate for Prime Minister Pierre Poilievre issued the following statement on the Bank of Canada’s rate hike:

“Today, persistent JustinFlation caused the Bank of Canada to hike the interest rate by 0.75%, another huge rise that will make debt and mortgage payments even more expensive for Canadians as many of them are just hanging on by a thread.

The cause of these rate hikes? JustinFlation.

Trudeau’s inflationary deficits - with the Bank of Canada acting as his ATM - sent a half-trillion dollars out to bid up the costs of goods. And his taxes made it even worse, driving up costs for businesses to produce goods and Canadians to buy them.

Canadians are borrowing more to eat, gas their cars and pay mortgages. Consumer debt was up to $2.32 trillion in Q2 of this year, 8.2% higher than the same time last year. JustinFlation has cause students to take on as many as three jobs and in some cases, visit food banks just to eat.

I have a “common cents” plan to fight JustinFlation. As Prime Minister, I will:

  1. Axe the carbon tax;
  2. End the money-printing deficits;
  3. Restore the Bank of Canada’s independence with a Governor who will fight inflation;

In other words: Make more, cost less. With paycheques, not debt”.

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