Federal interest costs will increase—perhaps substantially—if interest rates continue to rise
Low Interest Rates and the Cost of Government Debt
By Fraser Institute —— Bio and Archives--June 9, 2022
Canadian News, Opinion | Comments | Back To Full Article
VANCOUVER—As the Bank of Canada seeks to reduce inflation by increasing interest rates, interest costs on government debt—including federal debt—will also rise, finds a new essay published today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank.
“While the federal government continues to borrow money to fund high levels of spending, the cost of servicing Ottawa’s growing debt is poised to increase if interest rates continue to rise,” said Philip Cross, former chief economic analyst at Statistics Canada, senior fellow at the Fraser Institute and author of Low Interest Rates and the Cost of Government Debt.
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