Even modest interest rate hikes could endanger Ontario government’s promise of a balanced budget
The Impact of Higher Interest Rates on the Cost of Servicing Government Debt
By Fraser Institute —— Bio and Archives--February 24, 2016
Canadian News, Opinion | Comments | Back To Full Article
TORONTO—A higher than expected rise in interest rates could jeopardize provincial government promises of balanced budgets and surpluses, finds a news study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think tank.
“During this era of record low interest rates, governments in Canada have accumulated significant debt, which could pose serious risks to their budgets if interest rates begin to rise and return to normal levels, causing debt interest payments to increase,” said Jean Francois Wen, professor of economics at the University of Calgary and author of The Impact of Higher Interest Rates on the Cost of Servicing Government Debt.
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