RE:RE:RE:RE:RE:RE:Bank of Canda raises 1/4 pointThe boc average rate for 79-81 was 14.30 % which was roughly 2 times higher than the average rate for the previous 10 years of 7.36 %
We are now 4.75% at 3 times or more higher than the previous average the last 10 years or so.
We may be worse off now than back then as I remember, salaries kept up easier then than they are now..at least in Canada.
Back then I was getting a salary increase some 2 times per year to keep up with inflation until things started to normalize.
But BOC rates were much higher back then