10 — Wednesday, March 8, 1989 - North Shore News

inquiring
reporter
Evelyn Jacob

PRIME MINISTER Brian Mulroney said he takes full
responsibility for the Bank of Canada’s latest increase in
the bank rate, saying it was necessary to crush inflation.
His comments came after the Bank of Canada raised the
bank rate last week more than a quarter of a percent- inflation.

age point to 12.12 per cent. The prime rate is expected to

Will higher bank rate crush inflation?

Walter Clemens

North Vancouver

No, it won't. Ontario is
forcing us into these high
tates. Mulroney said in
1984 that interest rates
shouldn't go up.

Ron Woods

North Vancouver

Raising rates may help
the economy, but for the
average working man,
high interest rates are
pretty hard,

Pete Grizel

New Westminster

You can’t fight inflation
with these kinds of rates.
The government should
freeze wages and prices
and see what happens.

John Ford

North Vancouver

No, I don’t think higher
rates will be effective. 1
don’t see how they can
cut down inflation.

increase later this month to 13.25 per cent from its cur-
rent 12.75 per cent. If so, it would leave short term inter- |
est rates at their highest point since the summer of 1984.
Inquiring Reporter asks people if higher rates will crush

Lotfolh Mahbouli

North Vancouver

I don’t know if it will
combat inflation, but it’s
good for people who have
money in the bank.

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