The intent is not to keep inflation down but up... ...and then claim inflation is low. The above steals the value of your savings and wages and transfers it to banksters.
It is not good news. It means the economy has slowed and it has. It means the BOC is throwing in the towel on inflation and housing affordability. It also reduces the value of the Canadian dollar that puts additional pressure on inflation. Most will pay more due to the inflation spike than they will from what ever is saved on debt servicing charges with a 0.25% cut.
I still maintain that this guy needs to be fired. I'm not an economist just a common man with streets smarts and even I know that he needed to start off with a 50 basis points interest rate deduction to get anybody off the sidelines. A minimum of 75 basis points is needed to get anybody off the fence. It just goes to show you that the people who get the big jobs are clueless about what is actually happening on the streets; they don't have an ear to the ground from those ivory towers. Elitism ruining Canada. Does he honestly think that 25 or 50 basis points can get businesses to stop laying off and be bold to borrow more money to invest in tools, machinery, and innovation as he puts it to increase GDP and productivity? The interests these businesses are already paying on loans and lines of credits and mortgages are staggering! That speech he gave just before the rate change announcement recently fell on deaf ears.
The market should be setting interest rates, not this clueless guy. The Bank of Canada these days is a country club for private banks privatizing profits and socializing debt / losses.
Next target is Canadian dollar- decrease hence goods increase so is inflation, it will hurt the inflation control 😅, there is no free lunch and they should wait a little bit longer
When interest rate goes down, more people qualify for a mortgage, so demand for homes increases and prices go up. When interest rate goes up, the cost of a mortgage for a home goes up, so its again less affordable. The root problem is: Too many people chasing too few homes.
I was able to listen for about 2 minutes before shutting this off. Why on Earth would you have a translation directly overtop of the press conference remarks. Just post two separate videos...
I would love to be this guy. To deal with so many stupid questions that re-iterate the already existing response and have the patience to not be a dick while doing it. If I had a dollar for every single time I heard "we are pretty clear" - I could pay off my house and not worry about these rates.
😃👍 you can do it if you try 👏 He has a bachelor, master, and phd in economics. Spent the last 40 years working at the BoC from the bottom up. Never too late to start. Good luck!
@@ktefccre You could be a taco roller and still do his job. All he does is raise or lower interest rates and print money -- and he still gets it wrong !
Why are Canadians experiencing higher interest rates compared to the USA? Previously, our interest rate was 7.99%, while the USA’s was 0%. What actions has the Canadian government taken so far?
Mr. Banknof Canada: I must buy everything four times more expensive since 4 years ago, but I must sell my property price like 4 years ago. It means you are stealing my equity in my property. Everything can become more expensive, but real estate? Doing this, you are making homeowners become homeless in future.
The only people benefitting from this rate cut are the transportation companies moving all of our young Canadians across the border to the US.
and those young Canadians becoming American citizens are benefitting too.
Can you tell the government to cut the carbon tax so you can keep the inflation down
The intent is not to keep inflation down but up...
...and then claim inflation is low.
The above steals the value of your savings and wages and transfers it to banksters.
🤣😂 Trudeaus BOC theater
It is not good news. It means the economy has slowed and it has. It means the BOC is throwing in the towel on inflation and housing affordability. It also reduces the value of the Canadian dollar that puts additional pressure on inflation. Most will pay more due to the inflation spike than they will from what ever is saved on debt servicing charges with a 0.25% cut.
They can always lie about the rate of inflation, as they have.
CPI numbers are all fake and have been so since 2000 and especially since 2008.
French translations ruined this! The world of business is done in english! Lets make things easier on the ears and in general!
He is not very good with economic views
Enjoy the CDN Peso folks.
I still maintain that this guy needs to be fired. I'm not an economist just a common man with streets smarts and even I know that he needed to start off with a 50 basis points interest rate deduction to get anybody off the sidelines. A minimum of 75 basis points is needed to get anybody off the fence. It just goes to show you that the people who get the big jobs are clueless about what is actually happening on the streets; they don't have an ear to the ground from those ivory towers. Elitism ruining Canada. Does he honestly think that 25 or 50 basis points can get businesses to stop laying off and be bold to borrow more money to invest in tools, machinery, and innovation as he puts it to increase GDP and productivity? The interests these businesses are already paying on loans and lines of credits and mortgages are staggering! That speech he gave just before the rate change announcement recently fell on deaf ears.
The market should be setting interest rates, not this clueless guy.
The Bank of Canada these days is a country club for private banks privatizing profits and socializing debt / losses.
The economy has performed horribly with Tiff Macklem's poor decisions.
The market should determine rates, not thus guy.
i cant understand a single thing.. What the hell with the translator
It's a load of nonsense bro.
The only thing you need to know is your cost of living is going up and standard of living is going down 👎 😞
Next target is Canadian dollar- decrease hence goods increase so is inflation, it will hurt the inflation control 😅, there is no free lunch and they should wait a little bit longer
They can always lie and claim inflation is low.
When interest rate goes down, more people qualify for a mortgage, so demand for homes increases and prices go up.
When interest rate goes up, the cost of a mortgage for a home goes up, so its again less affordable.
The root problem is: Too many people chasing too few homes.
The people have no money.
Ask them why the bonuses , when everyone else is just getting by
Bonus... for wrecking the economy.
Good grief, fire your sound person.
I was able to listen for about 2 minutes before shutting this off. Why on Earth would you have a translation directly overtop of the press conference remarks. Just post two separate videos...
You cannot lie to us anymore. We have lost the economic war with Russia. Big Time!
Finally
Thanks for uploading the full press release
its a start i guess but not enough im sick of over paying for my tiny house
Tiff - Love you buddy! Good work. Glad I was of service :)
Thanks for talking over each other so it was a dogs breakfast to listen to!
I would love to be this guy. To deal with so many stupid questions that re-iterate the already existing response and have the patience to not be a dick while doing it.
If I had a dollar for every single time I heard "we are pretty clear" - I could pay off my house and not worry about these rates.
😃👍 you can do it if you try 👏
He has a bachelor, master, and phd in economics. Spent the last 40 years working at the BoC from the bottom up.
Never too late to start. Good luck!
@@ktefccre I think you took me a bit to serious. Trust the internet.
@@ktefccre
You could be a taco roller and still do his job.
All he does is raise or lower interest rates and print money -- and he still gets it wrong !
Why are Canadians experiencing higher interest rates compared to the USA? Previously, our interest rate was 7.99%, while the USA’s was 0%. What actions has the Canadian government taken so far?
It should reasonable for Canadians to expect reasonable, predictable, and stable rates for principal residences. How does that sound?
Bank of Canada, with the reaction time of a sloth
He made many canadians losing their equity in their properties. He is taking sibs every 5 min. What a sham show.
Who cares, boomer problem
Mr. Banknof Canada: I must buy everything four times more expensive since 4 years ago, but I must sell my property price like 4 years ago. It means you are stealing my equity in my property. Everything can become more expensive, but real estate? Doing this, you are making homeowners become homeless in future.
What is 4 times more expensive?
Gas price in BC in 2020 = $1.259/litre
Gas price in BC in 2024 = $1.899/litre
"everything four times more expensive" is hogwash
Why is the hindu modi supporter anticanadian asking hateful questions
Lots of people are checking out of society
Where are they going 🤔
Solid news!
No this means our dollar loses its value and inflation gets higher.