Are interest rate hikes the right approach to curbing inflation?

The Bank of Canada has raised its benchmark interest rate to 4.25 per cent, aimed at bringing down the high inflation rate. The seventh hike this year is causing economic anxiety for many Canadians with mortgages or debt — is it the right approach? Matt Galloway talks to Armine Yalnizyan, an economist and Atkinson Fellow on the Future of Workers; and Derek Holt, vice president and head of capital markets economics at Scotiabank.