VRD Wednesday, November 2, 2022

Interest rates, inflation and more...

The summary

In the news, first Canada and now the States. The US Fed has hiked its key lending rate by .75 per cent in the ongoing global effort to slow down inflation. Meanwhile, the message seems clear for those worrying about the economy - winter is coming. It’s time to start paying down debt, saving money if possible and cutting back on spending. The one sector that’s giving a good glimpse of the glum - housing, especially around Vancouver. Many thought it would never happen but housing sales have slipped to their lowest levels in years and prices are dropping. Bubble burst?

Around Vancouver, many have gathered to honour the life and service of Burnaby RCMP Constable Shaelyn Yang who was fatally stabbed during a check on the homeless in a city park. And in Surrey, unelected mayor Doug McCallum’s expensive legal team is now presenting its case in the ‘car over foot’ allegation behind his public mischief charge.