This week, FP Video looks at the Bank of Canada’s decision this week to raise interest rates . BMO chief economist Douglas Porter explains that the central bank rarely moves rates upwards just once, real estate executive Ross McCredie talks about how Canadians should prepare for higher rates, and strategist David Rosenberg discusses how the rate hike compares to the Federal Reserve’s own monetary policy moves (and his new book). Plus, with diesel prices running high , we ask why doesn’t Canada just build more oil refineries?
Bank of Canada rarely hikes just once: Porter BMO chief economist Douglas Porter talks to Financial Post’s Larysa Harapyn about the Bank of Canada rate decision and what comes next. Canadians need to get used to higher rates Ross McCredie, chief executive and chairman of Sutton Group, talks about how the Bank of Canada rate hike will affect the housing market. Bank of Canada will regret rate hike: Rosenberg David Rosenberg, founder and president of Rosenberg Research & Associates, talks about his career and his new book, Bear In The Bullring .
With diesel at record highs, why won’t Canada build more refineries? Diesel prices are at historic levels, threatening another round of high inflation. And yet Canada sends an overwhelming majority of its crude oil to refineries in the United States.
Watch to find out why Canada is not building more refineries of its own. Editor’s Picks
Source: Financial Post
