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Available Expert - Queen’s expert speaks to the Bank of Canada’s announcement on interest rates

Thursday, January 27, 2022

Queen’s expert, Eugene Lang (Policy Studies) is available to talk about the Bank of Canada’s announcement to hold off raising interest rates. The Bank held the overnight rate at 0.25 per cent, but signaled that interest rates would rise this year.

This comes after Canada saw the biggest inflation increase in over 30 years in December. The consumer price index had risen 4.8 per cent from the previous year, making everyday items like groceries and gas more expensive for Canadians. Many experts say that interest rates will need to rise in order to keep increasing prices under control.

“The Bank of Canada has just put Canadians on notice that interest rates are going up in the coming months,” said Prof. Lang.

To arrange an interview, please contact Media Relations Officer Victoria Klassen (Victoria.klassen@queensu.ca) at Queen’s University News and Media Services Department in Kingston, Ont., Canada.   

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