Canadians expecting a return to the ultra-low rate environment of the last decade and a half may be sorely disappointed, noting the rock-bottom rate environment in the wake of the Great Financial Crisis was an outlier, not the rule.

That means Canadians hoping to wait out the storm may be waiting a long time — if it happens at all.

“It’s early though, and the effects of higher interest rates are still working their way through the economy. We’ll need to keep a close eye on both credit stress indicators and survey data to gauge how businesses and households are adjusting.”

https://www.msn.com/en-ca/money/topstories/higher-for-longer-and-maybe-forever-bank-of-canada-deputy-says-ultra-low-rate-days-may-not-return/ar-AA1jHCiA?