The Surrey Board of Trade is concerned what impact interest rate hikes will have on business investment and consumer spending.
On July 11 the Bank of Canada increased the prime lending interest rate to 1.5 per cent from 1.25 per cent.
“We remain concerned about slowing growth as we look ahead in 2018 and into 2019, especially in light of trade protectionist strategies, NAFTA uncertainty and continued regulatory burden on companies,” said Anita Huberman, CEO of the board.
The Bank of Canada’s next interest rate announcements are set for Sept. 5, Oct. 24 and Dec. 5.
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