Another Large Interest Rate Increase Expected Today

The Bank of Canada, taking its lead from the Fed, is expected to announce another large increase in the interest rate today, in its ongoing effort to tackle inflation.

The increase is expected to be 75 basis points, although some sources report it could be as low as 50.

Either way, the impact on current debt holders will not be positive, as the cost of borrowing will increase – on current and future debt.

If the cost of debt is an issue for your business – or might be – you may be interested in 7 Items to Consider to Manager Small Business Debt.