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

      Light rain

      High: 15°C | Low: 5°C

    • Deer Lake

      Light rain

      High: 15°C | Low: 3°C

    • Stephenville

      Light rain

      High: 14°C | Low: 7°C

    Recently Played

    Podcasts

    • The Plain Truth

      The Plain Truth, Wednesday May 6, 2026

      Paula Sheppard's guest this week are Nicole Devoe, CASEY Coordinator, Rose , Your Prevention Coordinator, and Destiny Hopkins, from the Corner Brook Status of Woman Council.

    • Trash Talk

      Trash Talk Thursday, May 7, 2026

      Lynn Howse from Western Regional Waste Management

    • NL Summer Games 2026

      NL Summer Games update May 7, 2026

      Games Manager Cassidy Mercer On Bay Fm Thursday morning May7, 2026