3. ​41% of Canadians don’t trust BoC will tame inflation, poll suggests

​41% of Canadians don’t trust BoC will tame inflation, poll suggests

Shelter costs also perversely may go up with interest rates, as we see rents and carrying costs increase with each rate hike. This will be partially offset by owners replacement cost going down as values come down, but it should still net out to a positive amount given how dramatically rents and mortgages are going up, while house prices are stubborn due to supply and demand issues.

It’s really hard to see how the bank of Canada or the fed will be able to tame inflation. Too much is out of their control, so they would have to trip a very serious recession to make a difference. They really just need to get lucky, and pray global energy and food prices come down.

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