The Bank of Canada has increased the prime rate several times in recent months and...
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Finance
The Bank of Canada has increased the prime rate several times in recent months and are considering another increase in the near future.
Respond to the following:
a) Provide a detailed rationale for the Bank's decision to increase the prime rate and elaborate on the reasons for a central bank to warrant an increase in interest rates as well as any points of consideration opposing such an increase
b) What has been the immediate impact of these rate increases on the economy as a whole and to the public in terms of its financial impact on individual's lives?
c) What do you believe will be the longer term impact of the rate increases?
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