Bonuses are for people who exceed in their job, not for people who fail at their job. The Bank of Canada handed out $20 million in bonuses in 2022 while the Crown corporation hiked interest rates seven times and inflation reached a 40-year high. The Bank of Canada also failed to meet its inflation target in 2021, when it handed out $18 million in bonuses. At 6.8 per cent inflation, Canada’s inflation rate was higher than 74 other national jurisdictions in 2022, according to the International Monetary Fund. The Canada Mortgage and Housing Corporation “exists for a single reason: to make housing affordable for everyone in Canada,” according to its website.

Source: CBC News July 30, 2023 21:15 UTC