Canada’s Rate Cuts: What They Mean for Your Wallet and the Loonie’s Future

In this video, we will unpack the Bank of Canada’s latest 50 basis point rate cut to 3.25%, marking the fifth cut of 2024 and a total reduction of 175 basis points. Discover how it’s impacting the Canadian dollar (down 6.5% this year), consumer finances, and cross-border trade amid potential 25% U.S. tariffs.
Key Topics:
▪️ Economic Shifts: Slow GDP growth (1% in Q3) and rising unemployment (6.8% in November) could push the jobless rate to 7% in early 2025.
▪️ Inflation & Temporary Measures: Inflation remains near 2%, but wage pressures and a GST holiday could spark fluctuations.
▪️ Global Comparisons: Canada’s rate cuts have outpaced the U.S. and Europe, widening the rate gap and affecting the loonie (now C$1.414 per USD).
▪️ Looking Ahead: The next Bank of Canada decision is set for January 29, 2025. Learn how it may impact mortgages, investments, and financial strategies.
⚠️ Disclaimer: This video is for informational purposes only and does not constitute financial, investment, or legal advice. Please consult a financial advisor before making decisions.
Stay Informed! Like, Subscribe, and turn on Notifications for more insights on economic trends and personal finance.
Website: www.sartorialwealth.com
Facebook: sartorialwealth
Twitter: ?l...
LinkedIn: / shirazahmed-financiala...
Instagram: / sartorialwealth