Reply to "Who wins and who loses when the Bank of Canada raises rates"

Savers

Those with money stashed away in a savings account may not see much of the boost in the event of a rate hike. That’s because the banks are likely to increase the interest rates on loans, without providing a corresponding boost to the rates they pay on savings accounts, says Aiken.

However, the yields on many fixed-income instruments — such as GICs and money market funds — will likely increase. That’s good news for pensioners and others invested in fixed income assets.