Top right corner you’ll also find the shop for the game, that has a lot of nice skins, but they aren’t needed to play the game. At Video you’ll find the graphics settings and if your experience a lot of lag ingame you might want to lower your settings in there. It can be useful to reduce the sound settings a bit because the sounds can be pretty loud, SFX volume will be the one you will want to lower a bit because those are the sound effects of the surrounding and those can be too loud. If your controls are set to game pad you might like to go to the settings button at the menu upper right corner of the screen, you will find in the next menu that opens the controls button, choose there mouse and keyboard from the active controllers list. "Now you're up to 2.75 and man, that's a high real rate.After Starting the game you’ll see the following Menu on your screen: "Going forward if you expect we're going to be down to three per cent or even better if we get down to two per cent over the coming year, then that's a really high real rate," said the Western economist.
"That's a really good deal," he said.īut with interest rates at 4.75 per cent and inflation at 4.4 per cent and expected to fall further, real rates are higher and rising. He said that this is new and painful for Canadians who were paying low real interest rates on their mortgages while watching their real estate assets appreciate at between 10 and 30 per cent. You're going to have to sacrifice more raw purchasing power that you would otherwise use to buy other stuff." "So if the real interest rate is high, in terms of purchasing power, the raw purchasing power of your income over the course of paying off your mortgage - you're dishing out higher real payments. "The cost of purchasing a home is not just the dollar value of what you pay now, it's going to include all these interest costs over time," he said. Rising real interest rates have a similar effect when it comes to mortgages, said Williamson. But to an economist, they are both the same thing. People who seemed satisfied with a two per cent wage increase a year ago when Canadian inflation hit eight per cent would have been outraged by a wage cut of six per cent. And to help explain, he uses apples.Īnalysis The new reality of 6.7% inflation is that Canadians will be forced to spend lessīefore that time, many people had forgotten how inflation worked. Getting real on ratesįor a lot of people the concept is not easy to understand, but according to Stephen Williamson, one of Canada's top experts in central banking, the gap between real and nominal interest rates has a critical impact on the wellbeing of savers, shoppers and borrowers. As Bank of Canada deputy governor Paul Beaudry explained on Thursday in a speech to the Victoria Chamber of Commerce, real interest rates have been plunging all over the world since the early 1990s.Īccording to Beaudry, that could be about to change, not just until inflation is under control but over the long term. That is because what economists call real interest rates were negative.Įven this week as the Bank of Canada increased interest rates by another quarter of a percentage point to 4.75, the bank's benchmark rate remains only slightly higher than the current rise in average prices.īut even that's relatively new.
Until recently, during that latest surge in inflation, borrowing to buy something was actually a lot cheaper than waiting to buy it a year later. It will likely be hard to convince Canadians struggling with newly increased mortgage payments, but until very recently money has been free.
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