Brace for three more rate hikes this year: BMO

[@richboy3860]

2:15 - It is the citizens who have had to adjust quickly, not the Central Bank

[@bushy240]

and nothing about the Can/US billion/trillions of printing of tax $$$$ ?

[@Rob9345]

We don’t talk about that. It’s best to shove the crayon as far up your nose as possible until you see a rainbow and unicorns.

[@taralynnhoffmann5831]

The US government doubled the money supply by printing money. The Canadian government printed 5x the amount of money in circulation.

[@rezaulkabir4217]

During COVID pandemic Government printing so much money,now innocent people paid the price,suffering.Government act very irresponsible.

[@Calvin5150VH]

We keep forgetting to mention that this is a result of Trudeau's massive spending.

[@dougreed736]

Probably half the inflation is a result of Trudeaus spending

[@zw1730]

The fact you think this is caused by the prime minister means you have no clue how monetary policy works

[@dougreed736]

@@zw1730 you are the perfect example of how society got to this point...😜

[@zw1730]

@@dougreed736 if I'm the perfect example of what is wrong, what does that make you? Seems like you're nothing more than an armchair critic, probably too lazy to do any research, so you rely on blaming the PM as an easy excuse. I'm not a fan of our leader btw but at least I can recognize this is not just hit fault. The issue is actually fairly complicated but sure, go ahead and say it is one guys fault if that helps you sleep lol

[@kevinmaroon1093]

@@dougreed736 I will give you a quick run down. Every country slashed interest rates during the Global pandemic to stimulate the economy. What do humans do when interest rates are historically low? They indulge & indulge & indulge taking on debt....... that’s exactly what happened during the past 2 years. Canadians got new multiple homes as investments, Renovated their homes, bought new cars, and even borrowed against their Home equity to finance new luxury cars & cottages. I promise you this is not Trudeau or any PM’s fault. It’s all Canadians fault.

[@philippebouchard-bourdeau5100]

Thanks Larysa.

[@ChristianGirlwhoLovesJesus]

BOC created the problem by lowering rates too long. Now nobody can rent even 1 1 bedroom apt for under $2000/month

[@KM-sr9cc]

Expect double digits Inflation report followed by double digits rate hike in the very near future!

[@postscript5549]

In the western and southwestern areas (and more) of the U.S., the residential R.E. market is softening quickly.

[@ronl1633]

In other words, our monetary policy guys are still behind the curve.

[@kevinmaroon1093]

Good. Interest rates should continue to go up !

[@christianduval9067]

I expect 5% from the FED at the end of 2022......it will be smooth sailing before the US election....special request from the politics...and after that...rate will explode.. The only way to overturn inflation.....10% rate JustWait

[@thevanman4498]

Dithering assessment. I wouldn’t be at all surprised to see rates go up .75% for the next 3 meeting maybe more. The BOC dropped the ball bigtime, and they know it.

[@yunfengzhou]

The banker/politician forgot how this inflation was created in the first place. The price was inflated by the benefits cheque and supply chain problem, not by excessive investments. The real problem is government won’t get ride off benefit cheque nor can they fix supply chain problem. So this rate cut will cut the investments and employment. And GDP will shrink as a result, regardless how the governments try to rewrite the definition of recession.

[@crevis12]

This is Trudeaus fault.. printing excess dollars.. 160% more in circulation since jan 2020..

[@taralynnhoffmann5831]

The government printed x5 the money supply. 5 times!! Inflation was always due to goverments mass money printing. Putin has nothing to do with this.

[@ricardocardoso5423]

Next one will be 1.5%... more bs

[@Alex-vf8ww]

too funny these guys get paid to lie

[@davidlundquist]

There's another important factor in Canada which is the the aging labor force. and the difficulty we will have in attracting immigrants. More countries are in the competition the same immigrants and have stronger economies. Canada is committed to demand destruction under the Trudeau government.. this policy has halted our importation of new immigrants. For example this year we have Over 400000 available openings for new immigrants but we've attracted less than 80000. The strategy employed by the Liberals is to lower the required number of points in order to make up for the shortfall. Prepare for immigrants with less skills struggling for the same types of jobs Canadians are attempting to fill. We are in in deep crisis in this country and ultimately interest rates will rise to protect the dollar

[@carpediem7654]

It's difficult to survive in Canada at the moment. Many immigrants come and see how expensive it is to live and how low the wages are and they pack up and leave.

[@keerikkattuchellappanpilla276]

A generation worth of housing price gain was achieved in just 2 years.

[@GumballGarage]

He's being polite as the CMHC will take all the rotten mortgage paper when the time comes.

[@_Pooter_]

Financial Post’s Larysa Harapyn !!!✨🤩⚡

[@samgabriel2360]

Yes they will bring down the economy by higher rates without bringing down the prices of goods because the high prices are a result of something else altogether that have no connection with interest rates.for example the high price of oil, which is the root cause of inflation, won't get controlled by interest rates in Canada!

[@G_Ellis606]

Home prices don't count:?

[@navtel]

they have no clue what they are doing.. they caused it

[@carpediem7654]

Great reset.

[@karlroth7082]

The housing market is hardly affected much at all. It's not going to change much until all those people have to get another mortgage. .. 2-4 years.

[@Chris-se3nc]

2 negative quarters of GDP, when Canada’s GDP is the housing market. Interest rates have killed that market and the latest hike has not even taken hold. So yes we are going into recession. The lag will be all of the people moving forward renewing mortgages and unable to refinance.

[@charles597]

This is a good thing. Housing needs to come down.

[@carpediem7654]

@@charles597 it is for people looking to buy a house. But the middle class is going to get wiped out and that'll create a bigger problem than not being able to buy a house

[@dougreed736]

The last time inflation was this high the intrest rates went to 11% to get things under control. Unfortunately intrest rates need to get up asap. The sooner they do it the better it will be for people currently locked in. If they wait a year to get it up it will take that much longer to come down.

[@claudialupu2841]

If they keep increasing the rate will crush the house market that represent 10% if GDP . The recession will be brutal

[@dougreed736]

@@claudialupu2841 the majority of mortgages are locked in. If they get Inflation under control soon the rates can go back down to around 2.5-3.5% which is the normal level. We are still to low to combat Inflation. The rising cost of gas, food, goods and services are out of control. House prices went up 45% in 2 years that's not normal. They can go down some to get things under control.

[@PreetSingh-dj4un]

The criteria of rate hike is…… Rate will continue to rise till the the selling price of a house matches the cost of its construction or real price of a house.

[@truthteller6743]

In the last two years, 51% of new mortgages were variable. 80% of those mortgages were the fixed floating variable type. Next interest hike there will be a margin call on those mortgages. Trigger rate will be tripped.

[@mattslowikowski3530]

The second to last time inflation was this high, central banks did something different than the time before.

[@dirtlump]

Unfortunately, as interest rates are based on rearward looking metrics..... some overshoot can be expected on the way up. Of more concern when one looks, IMO, is the extremely widespread(systemic) nature of the now rampant inflationary trend disconnected from acute energy/supply chain issues ? which again IMO, highly suggests an abnormally dangerous currency 'debasement' factor to this inflation when framed against the explosion in Debt Instrument growth as a percentage of GDP. I do not believe the 'repair'... for lack of better terminology, will manifest in a std recession period, as painful and widespread asset corrections are inevitable reducing wealth effect discretionary spending substantially with cascading economic implications. NOT good !

[@Eric-lx8hp]

Get theinterest rate to 10%

[@mt8474]

When the Bank of Canada lowered rates in the 2008 financial crisis the Financial Institutions did not pass on all those rate cuts to Canadians. Thier reasoning was that it may be difficult for them to stay in business with such low rates. Do you think now that rates are raising the Banks and Credit Unions will be able to return to the correct spread in Prime prior to 2008? They made it though these last 14 years of difficult times on their revenue in a low interest rate environment. Now that rates are rising they certainly can't keep using the same excuse as when rates fell can they? The citizens of Canada could use the rate cut if the banks can afford it.

[@M_77779]

The question is do they want to close the gap between prime and fixed for their "investor" pockets. On businesses all the borrowing has been done on the cheap and the economy is "good enough" now that small businesses "should" survive. That's why they waited so long to hike rates. House prices have resisted the correction until a week ago. We won't know till the next rate hike if 5 yr rates are really topping out and there hasn't been a correction in housing yet to reflect that borrowing rates are 3x higher. It is more expensive to buy a home now unless you have cash... Foreign money (through permanent residents) will keep this thing a float for a soft landing... JT has almost doubled immigration to 450k people per year under his tenure, I wonder why....

[@adrianhdragon718]

Interesting new development. My theory for the security,prosperity and insuring of liberty for the ''' Collective Of North American Civilization'' best at this Point In Time. Good News is that Eye Love You. Calling for an immediate ceasefire ! That stated, read the following thrice carefully and and please only discerning, wise and questioning persons respond : Back in October 2019, as a World Peace Advocate, Independent Student Scholar of History, Geopolitics, Wars & Civilizations and Independent Security Analyst and Theorist HAD concluded that we ( North America, NATO member countries and THE WEST) are on a path towards WW3 due to the US-CHINA TRADE WAR begun by the Trump Administration back in early 2018, The Arrest of the CFO of Huawei Meng Whenzou by the RCMP in Canada in order to honor an extradition treaty with the USA, other geopolitical events, & the historical event known as Pearl Harbor. Concluding as an Independent Thinker, Analyst and Philosopher that we ( Humanity ) are on a Path Towards WW3 HAD created, designed & made a New Training Program produced to go hand in hand with a WW3 scenario. Thus, October 17 2019 HAD performed the 1st session of the General War Integrated Total Body Training System aka The 300 Workout integrated & in parallel to a near future timeline witch was the WW3 scenario. 93 Days later, the COVID 19 Crisis Began ! In parallel to my WW3 scenario witch is caused by a Stock Market Crash witch consequently triggers a Global Financial Collapse the Coronavirus began. Not sure what caused Covid believe it was snakes but cannot rule out another possibility. What do know is my scenario HAD a solution the creation of a New Institution : The International Citizen Integrated Social Security Force aka The Dragon Army witch am calling for the creation. Tell the Leaders of the Free World Dragon Zero's Message : Drop Down and give Dragon 13 pushups with Love & For The Sake of World Peace. What say ye ? Will you join the Dancing Goddess & Dragon Kingdom for World Peace ? Can u support, volunteer, bless & love Adrian Hannah Dragon's World Peace Work ?

[@upupandaway5646]

Love to see it at 19%. Sitting on tons if cash 😃

[@francisbael9334]

Love to see that

[@jordanthedoge535]

Me too

[@propheteyebert7063]

It still means your cash has been already been scalped due to inflation. And you pay tax on the interest, even though your buying power has actually gone down.

[@carpediem7654]

Everyone loses.