BoC interest rate hike impact for famers AND Veterinary loan forgiveness

Bank of Canada increased its policy interest rate by 75 basis points to 3 and a quarter per cent. J.P. Gervais, Chief Economist with Farm Credit Canada says expect more interest rate increases before the end of the year as the Bank of Canada tries to tame inflation.He says with even with higher interest rates and inflation for farm inputs, most farmers should still be in the black. A veterinary clinic in Prince Albert, Saskatchewan hopes the extension of a loan forgiveness program will help attract newly graduated veterinarians to their practice. The Saskatchewan government announced the veterinary clinics in larger centres will be able to participate in a program introduced last year for smaller communities.The province will forgive 4-thousand dollars of student loans per year for a maximum of five years for veterinarians and veterinary technologists. To qualify, the vets need to provide a minimum of 400 hours of service to large animal producers over a twelve-month period.Prince Albert veterinarian Dr. Tom Avey will explain how this will help practices like his.See omnystudio.com/listener for privacy information.