Bank of Canada holds key interest rate, signals June cut is in “realm of possibilities” | FULL
Вставка
- Опубліковано 13 чер 2024
- The Bank of Canada held its benchmark interest rate steady on Wednesday amid signs that inflation is easing.
The central bank's policy rate, which informs lending rates on key products like Canadian mortgages, remains at 5.0 per cent for the sixth straight decision.
The hold was widely expected by economists as signs indicate price pressures are easing, growth in the economy has stalled and the once-tight labour market is softening.
Bank of Canada Gov. Tiff Macklem said in prepared remarks accompanying the rate decision that recent data has given the central bank more confidence that “inflation will continue to come down gradually even as economic activity strengthens.”
Asked about whether an interest rate cut in June was on the table, he said it was “in the realm of possibilities.”
The Bank of Canada's rate tightening cycle began more than two years ago in an effort to rein in decades-high levels of inflation.
Annual inflation has since cooled significantly, last coming in at 2.8 per cent in February. That's within the Bank of Canada's target range of one-to-three per cent, but the central bank has maintained it won't ease its policy rate until it's confident price pressures will continue to decline all the way back to two per cent.
For more info, please go to globalnews.ca/news/10413855/b...
Subscribe to Global News Channel HERE: bit.ly/20fcXDc
Like Global News on Facebook HERE: bit.ly/255GMJQ
Follow Global News on Twitter HERE: bit.ly/1Toz8mt
Follow Global News on Instagram HERE: bit.ly/2QZaZIB
#GlobalNews #interestrates #bankofcanada #economy #canada #boc #cdnpoli
Two self inflicted inflation should stop !!!! Stupid. Mortgage rates and gas carbon tax !
People spend more because inflation makes them spend more
generally speaking same item is more expensive today yes; but people will *reduce* buying non-essentials as buying power diminish, and this is what they target. all things considered, you end up spending less in a more expensive economy thus cooling the economy….
Tiff Macklem should be fired.
They want to
Push Canada to have higher unemployment rate that is crazy
I'm thinking to staying at home this summer because the gas price here keeps going up everyday
Inflation in the U.S. is going up.
We can't count on Bank of Canada, to help Canadians & Canada be a strong country!
Yup. They should’ve said they were raising interest rates in June. Now we’re gonna see a housing boom and inflation is gonna go up.
Get educated, then we can talk!
Educated?? Really??? interest should be at 10% to 14% right now!!!
@@PCB-dg7pt probably no point in talking to this guy. He sounds like a communist. Probably has a full pension and goes to see the doctor every other week.
Again, get educated, stop being a drama queen, stop wasting our time!!!
grrrrr I have to renew next month and can not afford so can WE move into your house.
As the Canadian dollar tanks after the CPI and inflation report out of America today Tiff better get a clue and have second thoughts about any premature rate cuts.
When you don’t know what to do .. I guess you do nothing
Gov: We are hoping to see more job cuts until we are satisfied that we can bring the rates down...
Lets cut our service jobs, tho the good job all went back to US, Mexico and China. Unemployed and freezing is what we need
Imagine going on vacation this summer in the US and the CDN dollar is only worth 65 cents...rates need to go up, not down.
Shelter is not in the basket of goods used to measure CPI so why is he bringing up shelter costs?
And fuel prices go up to see more higher inflation..
I love it for my GICS
You're not supposed to say this, even though many people agree. For some reason, people who are good savers don't count.
Lagging indicator - inflation in the US ticked up, Canada will follow. Rates might dip but will likely go up again or plateau for a long time.
Over spending, too much unskilled labour, we don’t produce anything, government handouts. The rate of inflation has stalled but prices have not come down. We’re damned either way.
Blame Trudeau.
We haven't produced anything since the 80s when Mulroney started shipping all of our jobs to Asia. "Government handouts" is a right wing take on social programs (yet somehow you people never want to talk about taxing the churches, the biggest welfare bums in the country).
This shows Tiff doesn't really see what is happening with inflation and is encouraging a massive recession in the Canadian economy! Any interest cuts would cause inflation to go up to 8 or 9% at the least! This is why food prices are going up again and the cost of living will skyrocket! We hope Tiff will be fired by a new prime minister coming this fall!! Since he became governor of the Canadian bank, the Canadian economy has had no rudder to guide our nation's economic growth!!!
interest rate should be maintained until 2025
Interest rates need to be at 10 % or higher to stop run away inflation!!
The +40% cumulative price increases from 2021 to 2024 are here to say FOREVER. Inflation is still going UP, but just a bit slower now.
Well I guess I need to raise my rents again. Sorry everyone blame 4 eyes over here 👈
If landlord's cannot increase the rent, then interest rates shouldn't go up.
GDP growth? We are giving central banks 1/3 of our GDP just to service our debt.
(That's more than K through 12 funding)
Lower rates + more debt = no middle class
Except Shelter cost, every part of CPI is influenced by global market. not sure What BOC can do with it except losing people life's in Canada.
You are ruining my retirement I will have to be home less soon
To translate was he says, just think in opposites.
Glad that was funny
Keep it at 5 for another year. I'll gladly eat the higher interest on my mortgage when I renew next year if it means that inflation gets squashed. I have a mortgage payment that's within my means, so I am comfortable with higher rates and sleep well at night
Its a booming economy, tho we have pathetic ports and freezing weather, ppl are spending millions on houses and relate expenses. Even if all our jobs went back to US and everythinglese went to Mexico and China I can finallly eat a happy meal once a month $15 combo
LOL ! Canada is always same, same, and more of the same.
But if that's true, why are people upset? Hasn't something changed? Or are some people just always upset?
I don’t see anything funny in this sir
They were slow to increase rates, now there are late in cutting them. The issue is our dollar, if we cut them before US does, money will flow south and our dollar will tank.
As has been shown - a main driver of inflation is corporate price gouging - in particular by the fossil fuel industry, which is currently feasting on record profits while it gouges struggling Canadians at the pumps. Poilievre needs to stop his irrational & irresponsible attempt to sabotage the carbon price, a proven market solution that lowers CO2 emissions.