🚨Increased Market Volatility Makes Cash King Again🚨

The Bank of Canada hiked interest rates by 100 basis points today. It is not a good time to hold bad debt!

The Federal Reserve / The bank of Canada has stated that they are raising rates in an effort to combat inflation, which has been surging over the last year as a result of the economic disruptions of the pandemic. Raising interest rates is a measure designed to reduce demand, thereby reducing the upward pressure on prices.

However, as I explained in the past weeks, a lot of the inflation, particularly with…