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June 8, 2022
BC’s forestry sector dealing with challenges amid inflation, interest rate hikes
“It’s been an incredible period of volatility and uncertainty in our world and markets,” That’s from Susan Yurkovich, the President and CEO of the Council of Forest Industries as lumber prices drop and housing markets in Canada and the United States begin to soften due to rising interest rates from the Bank of Canada. Last week (June 1st), the Bank of Canada raised interest rates by 50 basis points for a second straight time, bringing its overnight rate to 1.5%. Yurkovich noted over the past ...
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