Inflation, Markets and High Interest Rates

August 29th, 2023 / Insights from James Whitehouse, Senior Wealth Advisor & Portfolio Manager

I recently read the Federal Government had determined that inflation was at 3.4% in the month of May. This all sounds very nice, but my own personal experience with price increases seems to be much greater than 3.4%.  And many conversations with others indicate the same: Inflation is happening at a high rate. 

More importantly for us, here is what is happening in our clients’ portfolios during this period of inflation:

  • We continue to add higher GICs to portfolios. After a year of increasing rates, we have developed ladders of rates over 3-year periods. The most recent rate was 5.67% on July 11, 2023, for 1 year in a Discretionary account.
  • We will continue to add higher rates for as long as higher rates prevail.
  • We continue to hold some very good quality dividend shares throughout most portfolios and are always looking for market opportunities.
  • This period of Inflation could drive companies to have higher prices and possibly increase margins, which could convert to higher share prices and higher dividends. This is not definite but is certainly a reason to continue owning quality companies.

We are Retirement Wealth Specialists and are always available to help you and your Family. Please don’t hesitate to call us.



James Whitehouse

Senior Wealth Advisor & Portfolio Manager

Phone : 403-531-8461
Email :


National Bank Financial - Wealth Management (NBFWM) is a division of National Bank Financial Inc. (NBF), as well as a trademark owned by National Bank of Canada (NBC) that is used under license by NBF. NBF is a member of the Investment Industry Regulatory Organization of Canada (IIROC) and the Canadian Investor Protection Fund (CIPF), and is a wholly-owned subsidiary of NBC, a public company listed on the Toronto Stock Exchange (TSX: NA).

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