Only traditional economists would accept that higher immigration would push up interest rates. Interest rates are set by the BoC not demand. Demand pushing up interest rates is part of the loanable funds mythology.
And they are set higher in order to transfer more assets from ordinary people to the wealthy. Inequality -- increasing the gap between rich and poor or the rest of us and the rich -- seems to be public policy.
Only traditional economists would accept that higher immigration would push up interest rates. Interest rates are set by the BoC not demand. Demand pushing up interest rates is part of the loanable funds mythology.
And they are set higher in order to transfer more assets from ordinary people to the wealthy. Inequality -- increasing the gap between rich and poor or the rest of us and the rich -- seems to be public policy.