Weak economy looms over holiday shopping season as consumers seek value: retailers

TORONTO – Santa is hearing Christmas wishes from children at malls adorned in holiday regalia, stores are teeming with eggnog and gingerbread treats and a barrage of marketing campaigns are promising the perfect gift is just one credit card swipe away. But among the usual trappings that come with the holidays are new factors that could shake up the busiest shopping season of the year: inflation, and the high interest rates the Bank of Canada has imposed to fight it. × Already a Subscriber? Sign in You are logged in Switch accounts The combined pressures, with prices up substantially in the last few years and the policy rate at five per cent, threatens to weigh on shoppers’ willingness to spend…