It is one of the most common questions in Alberta — and the answer is not "because landlords are greedy" (though some are). The real answer involves a chain of cause and effect that starts in Ottawa, runs through bond markets and bank boardrooms, flows into construction sites and permitting offices, and takes 2-3 years to fully play out before landing on your kitchen table as a rent increase notice.

This lesson traces that chain, starting with the most powerful lever in Canadian housing: the Bank of Canada's policy rate.