Bank of Canada cuts interest rate to 4.5% with hints of more to come | FULL
Вставка
- Опубліковано 7 вер 2024
- During a press conference in Ottawa on Wednesday, Bank of Canada governor Tiff Macklem confirmed the bank cut its benchmark interest rate by a quarter of a percentage point, meaning it now stands at 4.5 per cent.
This comes as the second straight reduction on the Bank of Canada's policy rate, which broadly informs the cost of borrowing across the country.
Though Macklem said the bank is "equally concerned" about being either below or above its two per cent target, he assured Canadians that they will now "have more income for other things" with the latest decision, following a particularly strained economic period.
"If we continue to make progress and inflation continues to come down broadly in line with our forecast, it is reasonable to expect, some further cuts going forward," Macklem said.
The move was widely expected by economists as inflation continues to cool and the Canadian economy shows signs of weakness.
For more info, please go to globalnews.ca/...
Subscribe to Global News Channel HERE: bit.ly/20fcXDc
Like Global News on Facebook HERE: bit.ly/255GMJQ
Follow Global News on X HERE: bit.ly/1Toz8mt
Follow Global News on Instagram HERE: bit.ly/2QZaZIB
#GlobalNews #BankofCanada #InterestRate
This should worry Canadians. The BoC knows our economy is in serious trouble. This confirms: rough times ahead.
With all due respect; we have been in rough times for going on 2 years now and any other thinking is foolish. All the doom and gloom has melted peoples brains. Yours included. The rates go up, people get worried, the rates come down, the people get worried.. no matter what, the people are worried. Wake up and smell the coffee, you are just a worry wart.
No, they're cutting rates too early. These are the same dummies who said that inflation is transitory. Inflation is going to roar back with a vengeance.
low interest rate with higher housing cost. what kind of rip off is this? It should be higher interest rate with lower housing cost so people can buy cheaper house when they can afford after saving enough. That's how it used to be. Also, mass immigration with supply issue. What a 3rd world country Canada has become.
house holds arent feeling just a pinch with interest rates, theyre feeling a punch
Conclusion. Prices will never come down. The Milk that people used to buy for $3.97 and is now $5.89 and will stay same or increase in the future.
People need to understand the system is not designed to handle aggregate deflation. It is designed for higher price. Meaning after 10yrs at 2% inflation the $5.89 milk bag will be $7.18.
The first line demonstrates a pretty serious lack of understanding.
The second line is actually quite smart, and yes; that's how modern monetary theory works.
@@LanceBryantGriggHow is there a lack of understanding when he is correct?
low interest rate with higher housing cost. what kind of rip off is this? It should be higher interest rate with lower housing cost so people can buy cheaper house when they can afford after saving enough. That's how it used to be. Also, mass immigration with supply issue. What a 3rd world country Canada has become.
U want home price to fall, just raise the rates, u want to ease the people with debt, just cut the rates.
Rents are all going up because the owner's cost to carry a mortgage has gone up. They are of course going to pass that on to the renter. Duh!
People have to cut on expenses that are not required... restaurants, smoke, gaming, luxury, TV channels, music and movies, fancy foods, internet extras, not useful meds and drugs, extra clothing, luxury sports like downhill ski, extra pair of glasses, etc.
"There is no future in this country!" If our leaders were more proactive and less reactive we wouldn't be making a bad situation worse. If they weren't so concerned with lining their own pockets instead of stimulating our own economic situation and attracting business instead of taxing people to death...we wouldn't have to bend over backwards to attract the next generation of slaves. When a leader openly says "they budget will balance itself", he should have been immediately replaced. This was the worst government in our history and we allowed it to happen. We need leaders who are less concerned with nonsense and more concerned with taking this country into the future...being complacent won't cut it.
High interest rate means your dollars are worth its weight in gold; the lower the rate means your dollar ain't worth sh#!
low interest rate with higher housing cost. what kind of rip off is this? It should be higher interest rate with lower housing cost so people can buy cheaper house when they can afford after saving enough. That's how it used to be. Also, mass immigration with supply issue. What a 3rd world country Canada has become.
You need to stop telling canadian that inflation went down because it's not true. A bottle of oil was 4 to 6 dollars, now that same oil is 12 dollars
Inflation Wins!! Fatality!!
5 yrs ago I renewed for 1.65%, the bank rate will have to come down a hell of a lot!
OMG how many times people need to ask the same questions. I feel bad for the governor.
Recession Recession let The Big Depression come
U need to go to jail
I have a feeling that many homeowners will literally just walk away from this enslavement they've created for us come mortgage renewal time. People won't even be treading water, they will be drowning. Thank you to our pathetic, incompetent government. You've motivated me to acquire citizenship in a far better country where I can actually enjoy a high standard of living and not chase a dream that no longer exists. I truly feel for those who are trapped in this nightmare.
RUFF
Brotha eww. Inflation is still rampant and they are lowering rates?. So stupid
Purely a political move. Nothing to do with sound economics.
I'm dumb can you explain why pls
Yeah, because half the inflation is caused by high interest rates.
@@bellringer63 so removing more money from the economy causes more money to be in the economy. Yeah makes sense mb
@@triplekmafia4932Interest actually increases the quantity of money in the economy and so decreasing the value of money (inflation). Very simple math. FYI: Money in wage earners’ pocket is not “economy”.
People are saving for mortgage increases? Saving!!!???? Let them eat cake smth?
3:30 opposing forces
BoC take away is easy does it.
Let's hope that Pierre fires this grifter.
Pierre wants lower rates too and he's not going to fix the problem.