Canadians got hit with a double whammy last week when the price at the pumps began turning upward again, with many predicting a return to $2 a litre in the near future.
That upward trend likely means that overall inflation will rise once again as the price of gas rises with the cost of groceries, forcing the Bank of Canada to continue its aggressive hikes in interest rates to cool inflation.
On Wednesday, the Bank of Canada raised its key lending rate by a half-percentage point to 3.75 per cent. You can bet interest rates will continue to rise in the near future – the only question is by how much?
Canadian golf operations will feel the tight economy when recession is expected, at least in the first two quarters of 2023. How severe that recession is remains to be seen.
With golf operations in the midst of buying season, how is the economic forecast playing on the minds of the buyers currently meeting with their suppliers?
To what extent has inflation/rising interest rates limited buying decisions this year?
That’s the question in this week’s GNN Poll.
You can answer below or on the GNN home page and if you’d like to add a few thoughts on this subject, please use the Comments section below.
To what extent has inflation/rising interest rates limited your buying decisions this year?
- To a certain extent. (46%)
- In a big way. (37%)
- Not at all. (17%)