The Bank of Canada will raise interest rates by a quarter-point for a second straight meeting to 5.00% on July 12 following a five-month pause earlier this year and then hold well into 2024, according to a majority of economists polled by Reuters.
The BoC was created by the will of the people to be, just as it continues to be, a bank (to the banks). Of course it is going to raise and lower its interest rates, just like every other bank. That’s what banks do. There was no need to seize power because the public explicitly wanted this bank to exist and for it to function as such.
It is told that the public does not want taxes to be raised. Why would those same people then give power to the BoC to raise taxes? The wanted a bank. They do not want higher taxes.
The BoC was created by the will of the people to be, just as it continues to be, a bank (to the banks). Of course it is going to raise and lower its interest rates, just like every other bank. That’s what banks do. There was no need to seize power because the public explicitly wanted this bank to exist and for it to function as such.
It is told that the public does not want taxes to be raised. Why would those same people then give power to the BoC to raise taxes? The wanted a bank. They do not want higher taxes.