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Finance

During Statements by Members, the topic was the Bank of Canada’s latest interest rate decision. Tamara Kronis (Conservative) said the rate increase raises borrowing costs right away for people with variable-rate mortgages, truck loans and lines of credit, and raises questions for those renewing fixed-rate mortgages. She attributed inflation and these costs to government spending and asked the government to stop that spending and bring in a plan to lower food and gas prices and make housing affordable for young people. No other members’ statements on the topic are recorded here.Written by AI from the debate. Updated .

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