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Jack Mintz: Higher real interest rates are very bad news

Stalled growth, higher rates and uncontrolled public debt an explosive combination

The OECD this week forecast that interest rates are expected to rise by a half point in most countries, including Canada, in the coming year. This is on top of recent hikes by the U.S. Federal Reserve, the European Central Bank, Japan and New Zealand. Only a year ago, we heard from experts that interest rates could fall as economies stalled.

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Inflationary pressures are part of what’s causing interest rates to rise. The headline inflation rate peaked at over eight per cent in the EU, U.S. and U.K. in 2022 and hit 6.8 per cent........

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