Change in implied interest to GDP (previous 5 months)

Bank of Canada interest rates are often analyzed on their, ignoring the debt they'll be charged on. This graph shows the rise in the interest value to GDP compared to five months prior. This latest tightening cycle is in the top 3.

Chart: David Macdonald - Canadian Centre for Policy Alternatives Source: Statistics Canada Table 36-10-0580-01, 10-10-0139-01 and Bank of International Settlements