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FCC advises planning ahead in case of interest rate hikes


August 25, 2021
By Top Crop Manager

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According to Farm Credit Canada (FCC), markets are bracing for the Bank of Canada to raise interest rates in 2022. The agricultural lender advises producers to start planning now to avoid any financial shocks caused by the fluctuation. Discussing options with lenders now – such as converting variable loans to fixed rate or determining a farm’s costs of production under different interest rates – allows for more options and security than waiting and trying to make changes or plans on the fly. |READ MORE