The Bank of Canada jacked up its trendsetting interest rate by three-quarters of a percentage point last Wednesday to 3.25 per cent.
That alone may be enough for a business to put the brakes on any capital expenditure, but even if it does have the available cash and doesn’t need a loan or the line of credit, it’s going to cost significantly more due to inflation, the reason for the rising interest rates.
In the wake of the Covid-19 pandemic, both consumers and businesses are often building up considerable debt, or cutting back on expenses.
Have rising interest rates/inflation caused the golf business where you work to delay a major capital expenditure that was considered for 2023?
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.