Hike

 Bank of Canada raised its prime rate, again; it now stands at 5%.

Not sure how I feel about this. Are they pursuing a theoretical solution

in the face of a novel situation. The pandemic forced the blocks of the 

service economy to shut down, cancelled travel, put many families through

a difficult loss. So what if there is spending on 'luxe' things now, we may

be looking at mental health issues. As for the housing crisis, every bit of interest

hike is painful to holders of outsized mortgages. Are these rate hikes realistic,

or are they just painful !!

                                                           *     *     *

US inflation clocked in at 3% for June, comapred to 4% in Ap4ril. Food

prices are still going up...

https://www.ft.com/content/c86136db-17be-487d-aa8f-642b4b81aa1f