Given that growing interest rates can impact Canadians economically, this would make immigrants less likely to come to Canada or at least make them pause to consider other options. However, this is not the case – which is good news for both the economy and social progress. After a decrease in immigration numbers due to border closures and pandemic restrictions, Canada is starting to see its immigration numbers return to normal. In fact, Canada welcomed the highest number of immigrants in 2021. Overall, Canadian immigration is not hindered by increasing interest rates, and things look good for the future of immigration in Canada.
