Federal Shadow Finance Minister says we have the highest debt in all G7 countries

    Friday, 14 July 2023 12:00

    By Tonya Organ

    Jasraj Singh Hallan, says this is the tenth time in two years that the Bank of Canada has raised interest rates.

    Bad news for anyone with a mortgage or looking to get one. to. On Wednesday, the Bank of Canada has once again, increased the benchmark lending rate by 25 basis points, reaching 5%.  Conservative Shadow Minister for Finance, Jasraj Singh Hallan, says this is the tenth time in two years that the Bank of Canada has raised interest rates. Hallan says Canadians have the highest debt in all G7 countries.

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Heavy Rain

      High: 4°C | Low: 1°C

    • Deer Lake

      Heavy Rain

      High: 4°C | Low: 1°C

    • Stephenville

      Heavy Rain

      High: 4°C | Low: 3°C

    Recently Played

    Podcasts

    • BayFM On-Demand

      Corner Brook Mayor Linda Chaisson on Bay Fm

      Corner Brook Mayor Linda Chaisson on Bay Fm, November 4, 2025

    • Sunday Night Geek

      Sunday Night Geek, November 2, 2025

      Sunday Night Geek, November 2, 2025

    • The Plain Truth

      The Plain Truth, Wednesday October 29, 2025

      October is Woman's History Month