Canadians feel little pain of rate hikes

A woman carries shopping bags while walking past a window display outside a retail store in Ottawa, Ontario, Canada, in this file photo. Canadian consumers are feeling little pain from four rate hikes by the Bank of Canada, despite all warnings to the contrary. Data released Friday showed retail sales rose 2 percent in May and are on track to expand at an annualized pace of about 4 percent in the second quarter of the year, defying predictions that rising interest rates would douse the long consumer boom.SD-Agencies