"Welcome news": Bank of Canada governor says it's "reasonable" to expect more interest rate cuts

Рет қаралды 11,802

27 күн бұрын

Governor Tiff Macklem held a press conference on Wednesday, after the Bank of Canada lowered its benchmark interest rate by a quarter-percentage point, marking a significant turning point in the central bank’s efforts to tame inflation.
The Bank of Canada’s policy rate now stands at 4.75 per cent following six consecutive holds in previous meetings.
Homeowners with variable-rate mortgages, as well as Canadians with other kinds of debt tied to the central bank’s policy rate, will immediately see their interest rates drop by 25 basis points. Macklem said that the “considerable progress” made in taming inflation should be “welcome news” to Canadians.
Macklem said that if inflation continues to ease, “it is reasonable to expect further cuts to our policy interest rate.” But he added that the central bank would take its decisions “one meeting at a time.”
As the Bank of Canada expects inflation’s journey back to two per cent will be “gradual,” Macklem said the pace of rate cuts will likely be the same. In other words, Canadians should not expect the path interest rates took on the way up - the most rapid tightening cycle in the Bank of Canada’s history - to be the same pace at which the central bank lowers rates.
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Пікірлер: 63

@zackd4770 25 күн бұрын

The only people benefitting from this rate cut are the transportation companies moving all of our young Canadians across the border to the US.

@benny871 24 күн бұрын

and those young Canadians becoming American citizens are benefitting too.

@yvesgingras1475 25 күн бұрын

CAD is getting sacrifice to pump that housing bubble...

@sherdonforbes3480 25 күн бұрын

The prosperity of future generations and our national currency will be the sacrificial lamb for high home prices. Young people have been sold out by their own elders and government disgusting

@yvesgingras1475 25 күн бұрын

@@sherdonforbes3480 And THEY want YOUNG generation to take care of THEM?!

@sherdonforbes3480 25 күн бұрын

@@yvesgingras1475Let their precious immigrants take care of them. They can spend holidays and family get togethers with each other. They want to suck the life out of young people literally. Screw that hire exchange students for cheap labour and put them to work for you doing side jobs that require labour I do it all the time. Pay them $11- $13 per hour cash use that money to save up for your great escape out of Canada. You have to take advantage of their greed. Buy Gold and silver. Don't save in CAD currency. Dont buy Canadian stocks bonds mutal funds or etf's. I'm even going to start shorting the CAD dollar and encourage others to do so. You have to be more ruthless than them to get ahead sadly. Take care my friend and may God bless you with a long and prosperous life. Salute

@nilesandsam 25 күн бұрын

I think it's important not to put the older generation into one box. The older generation paid huge into the government before the rest of us were even born and they are still paying. Problem is the government greed 100%. It's lobbying that's FD a lot up and the open door of immigration with the taxation and limits of industry makes it worse. When there wasn't a damn thing to invest in except real estate you get this crap.

@yvesgingras1475 25 күн бұрын

@@nilesandsam But they didnt try to fix this before we end up in this mess? And they want to bailout home value enslaving young generation (debt slave). Whats the carrot for young people? Surviving while old folk thrive?

@user-qq4zg4gg3w 24 күн бұрын

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.

@user-lb8bg6kj9m 22 күн бұрын

The people have no money.

@DarrylWolk 25 күн бұрын

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.

@user-lb8bg6kj9m 22 күн бұрын

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.

@publicservice9683 25 күн бұрын

Can you tell the government to cut the carbon tax so you can keep the inflation down

@user-lb8bg6kj9m 14 күн бұрын

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.

@aiqueenla2786 25 күн бұрын

He is not very good with economic views

@24theMoney 24 күн бұрын

Enjoy the CDN Peso folks.

@jimmorrison1860 21 күн бұрын

Ask them why the bonuses , when everyone else is just getting by

@user-lb8bg6kj9m 14 күн бұрын

Bonus... for wrecking the economy.

@namkebanyanklariti 15 күн бұрын

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.

@user-lb8bg6kj9m 14 күн бұрын

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.

@brettarogers144 25 күн бұрын

French translations ruined this! The world of business is done in english! Lets make things easier on the ears and in general!

@1ABNDT 25 күн бұрын

🤣😂 Trudeaus BOC theater

@user-lb8bg6kj9m 22 күн бұрын

The economy has performed horribly with Tiff Macklem's poor decisions. The market should determine rates, not thus guy.

@ktefccre 24 күн бұрын

Thanks for uploading the full press release

@aiqueenla2786 25 күн бұрын

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

@user-lb8bg6kj9m 14 күн бұрын

They can always lie and claim inflation is low.

@Dehssiel 25 күн бұрын

i cant understand a single thing.. What the hell with the translator

@user-lb8bg6kj9m 22 күн бұрын

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 👎 😞

@CalmPlains 25 күн бұрын

Good grief, fire your sound person.

@cameronwilsonmortgageagent1160 25 күн бұрын

Tiff - Love you buddy! Good work. Glad I was of service :)

@larrylayton4873 10 күн бұрын

High immigration lowers wages and causes a housing shortage and high home prices

@Joshua-zw7jl 25 күн бұрын

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...

@shawner1989 25 күн бұрын

its a start i guess but not enough im sick of over paying for my tiny house

@ArenAurelius 25 күн бұрын

You cannot lie to us anymore. We have lost the economic war with Russia. Big Time!

@georgehiotis 25 күн бұрын

It should reasonable for Canadians to expect reasonable, predictable, and stable rates for principal residences. How does that sound?

@junvillagracia2628 25 күн бұрын

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?

@cindycreateforlife 25 күн бұрын

Thanks for talking over each other so it was a dogs breakfast to listen to!

@LanceBryantGrigg 25 күн бұрын

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.

@ktefccre 24 күн бұрын

😃👍 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!

@LanceBryantGrigg 24 күн бұрын

@@ktefccre I think you took me a bit to serious. Trust the internet.

@user-lb8bg6kj9m 22 күн бұрын

@@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 !

@philip796 25 күн бұрын

Finally

@C.J.T49 25 күн бұрын

Bank of Canada, with the reaction time of a sloth

@user-vv5fe7oq8e 25 күн бұрын

He made many canadians losing their equity in their properties. He is taking sibs every 5 min. What a sham show.

@C.J.T49 25 күн бұрын

Who cares, boomer problem

@user-vv5fe7oq8e 25 күн бұрын

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.

@Aaron-rw3lv 25 күн бұрын

What is 4 times more expensive?

@_netscapenavigator 25 күн бұрын

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