Bank of Canada is buckling under pressure from business sentiment

[@michelgrenier1878]

Trudeau's take-down of Canada ??

[@paulehmann3951]

Michel Grenier look up Doug Force the myth is Canada

[@meMiner]

I am sure this is concerning to Trudeau and he will get right on it. Oh wait. He went surfing.

[@cathy9160]

Died for laughing.

[@tboned5641]

Trudeau spending like a drunk sailor devaluing our currency. In the meanwhile, interest rates are too high, and need to be to protect the dollar. The economy will implode here in Canada. You guys wanted Trudeau, and this is what you voted for.

[@MrPhilharmonica1]

??????????????????????????????????????? get a book.

[@nyxjones5797]

Stating that the interest is too high must be a joke.

[@tboned5641]

@@nyxjones5797 It is a fact. Interest rates are a relative thing. Right now, they are too high for the Canadian economy to grow. It is a necessary evil though since that a*hole in Ottawa has been spending our money like crazy and driving our currency down.

[@BOG0690]

WEXIT

[@paulehmann3951]

Boromir Of Gondor look up Doug Force the myth is Canada

[@GlobalResistanceCoalition]

And you actually think WEXIT would save Western Canada from the Hegemonic order? You poor groupthink slave, the hegemonic order Divide and Conquer Agenda is whats driving WEXIT forward.

[@Soso64bit]

No matter, so long as the budget balance's itself as planned we should be fine.

[@jays5926]

Don Larson He is saying the the growth potential is much higher than what it currently is.

[@jays5926]

Don Larson exactly

[@great769]

Don't worry we have Trudeau the Dim, a Drama Teacher. LMFAO.

[@Highlanderabroad]

Too bad that we didn’t have a way to get Canadian oil into the marketplace. Trudeau’s policies will finish Canada

[@MrPhilharmonica1]

Do you really think it is just him. Really!. Get a life and an education. Get involved and get elected. Write to your MP but please stop whining. read history.

[@Soso64bit]

And they'll tell you it's fine, it's just the 'global market' that has weakened, not Canada. I'm certainly glad we have such a well-educated leader who understands the economy and takes measures to improve it... As opposed to just giving our money away frivolously and taxing us into oblivion.

[@tonylinardi3089]

What are our governments thinking about? This bubble is getting too big, Are we on the cusp of a depression?

[@cathy9160]

O I'm afraid how will we pay for our internet.

[@cyberblock7619]

The greatest depression in history is coming

[@boogyjuggy]

bingo, its going to be ugly

[@sasbetasquadron873]

🤣🤣🤣 *Official admission that the only thing propping up the canuck economy is rich immigrants bringing cash and parking it in the nouveau swiss bank accounts also known as real estate...* 🤣🤣🤣

[@crosswire7777]

What propped it up against the world during 2008? It wasn't real estate

[@BOG0690]

@@crosswire7777 Like it or not, Harper did.

[@crosswire7777]

@@BOG0690 ding ding ding!brain detected! Nice

[@boogyjuggy]

@@BOG0690 yep

[@sanjaybakshi3901]

All I know this is not gonna end well

[@elaine1034]

You are right! The Brits and Jumerican financiers funded Lenin.

[@e.rijpstra6152]

Venezuela of the north coming soon.

[@babcockglobalinc3625]

I keep saying it, without a decent monetary fiscal reform policy any other politics means nothing, we need to take the governments ability to print there own money and borrow from banks away from them. Make them accountable for there spending by putting them in jail for over spending and everything will change. Keep allowing fiat monetary policy and fractional lending to continue and were all finished. Plain and simple. Back to a gold standard now since we have electronic transfer no more issues with transporting bulky gold.

[@mikepettipas690]

ALBERTA IS ALREADY AN INDEPENDENT STATE !!! TELL 2 FRIENDS ,,,,,,,,,,,

[@smzzms2523]

What a bunch of CLOWNS

[@lg1918]

Where does immigration help a weak economy!? Blah blah blah

[@mohammadusman8190]

Rich immigration.. rich Chinese people coming over here buying houses and businesses add money to the economy by paying taxes they bring money in to the country

[@mohammadusman8190]

Yes ie Vancouver as a primer exemple.. well the market correct it self ever few years ... the market crash lol ... so lesson to be learned dont buy a house when the market is hot ..lol wait till it crashes every 8 or 12 years

[@David-ow9bc]

This pleases JT to no end along with his buddy Georgey the nation wrecker

[@francischiavetti3185]

I'm not a political person by any means. I usually just stay out of it. Im 35 years old and single, not a lot of major political decisions apply to me in regards to health care, children's care, etc. I work for myself so don't care to much about public sector. I just know Cdns are spending way to much on cars, TV's, boats, a house they can't afford, vehicle's that burn tons of gas, and a whole lot of other junk. How many Canadians have over 25K in their bank account at all times, or 500K to 1M in investments when they retire, and I'm not talking about grandma and grandpa (the matures) who came from the war era and still save every penny. Come on now... aspirefinance.ca

[@josephlim8941]

Long term mortgages are lower rate than short term rates. Long term mortgages linked to LT bond market. Short term/variable rates linked to BOC overnight rate. Looks like another inverted yield curve. Leading indicator and accurate past 7 time that has lead to Recession

[@davidweum9334]

January 7, 2020. I muust renew my mortgage in September. I'm going for a variable rate. I'm not an economist, but I think we will be deep in a recession by then and it will get worse from there. Thoughts?

[@mikerattee56]

Larysa's financial interviews are the best

[@squatch545]

LMAOI!

[@francischiavetti3185]

I think we're missing the boat here. It doesn't matter what PM is in. We need to pay off debts, save more, and live within our means!! aspirefinance.ca

[@dougridgway7570]

Francis Chiavetti , I mostly agree. So what your saying is it is better to live like a conservative. Because that’s what you just described as far as spending habits. Secondarily it helps if you don’t spend like a drunken sailor unlike the current P.M. So when it comes to navigating the ship through tough seas I would ask the person with the most experience to do so. Certainly if the only person was a drama teacher who acted like a sailor once I guess that would have to do, but if there was a captain who had years of experience that would be my choice. Apparently the only one on the boat is the drama teacher. Well here comes more drama than we can possibly manage.

[@andrewbaldwin4454]

In his interview with Bloomberg’s Amanda Lang the day of the interest rate announcement Poloz said: “And so fortunately you know here in Canada we had fiscal support over the last four years [i.e. for the first term of the Trudeau government]. That support, which I spoke about in a speech in February, saved us about 100 basis points of further monetary easing.” Without discussing the merits of Poloz’s position, the inappropriateness of a central bank governor acting as cheerleader for the current government’s fiscal policy should be obvious. For some reason, it leaves Kevin completely unfazed. The Governor of the Bank of Canada is supposed to be non-partisan. That’s one of the reasons for the seven-year term, to make the position less subject to partisan pressure. Poloz has got to dial back his rhetoric. Is he lobbying for a second term as governor perchance?

[@tamarkuperstein6154]

Read the Saturday Nov 2 article in the FP that explain the rationale for favoring fiscal stimulus as opposed to monetary one.

[@andrewbaldwin4454]

@@tamarkuperstein6154 Are you talking about the piece by Kevin Carmichael? The details of it struck me as a little strange. Kevin is very upset that the UCP government in Alberta is planning to balance its budget over five years. Endless deficits seems to him to be the way to go. I'm not sure what macroeconomics textbook he read that in. This is because of Alberta's "fragile economy". At the same time he is quite unfazed by the Trudeau government imposing a backup tax on GHG emissions on this fragile economy at the beginning of 2019. Why is that? In any case, whether Kevin is right or wrong, how does that change my point that it is inappropriate for Poloz to discuss the appropriateness of one fiscal policy over another in public, especially in what would seem like a brazenly partisan way.

[@tamarkuperstein6154]

@@andrewbaldwin4454 Yes.

[@ernestvaillancourt5828]

Easý solution! Remove the liberal party from power.

[@zdenekniederle9440]

Interest needs to be raised up to bring Canadians back to Earth.

[@ianbarron1196]

the rich will buy million dollar houses for 10 cents on the dollar

[@IvankaB-ft6hd]

here is your warning people, get some food, water, silver and gold if you can. they are warning you!!!

[@beastlyendeavour9184]

How can immigration help the economy when infrastructure can't keep up. There isn't anywhere to live. Hard to move around in the cities. It's out of control. Currency value is based on who's printing the least amount compared to one's debt levels. Certainly not backed by anything anymore.

[@andrewbaldwin4454]

The October interest rate announcement comes less than a week after the third anniversary of the 2016 inflation-control renewal agreement between the Finance Minister and the Governor of the Bank of Canada. The background information to that agreement contains this passage: “At the time of the 2011 renewal, the Bank estimated that measured CPI inflation was biased upward by about 0.5 percentage points (Sabourin 2012). More recent estimates indicate that the bias is now about 0.3 percentage points (Sabourin forthcoming). This finding suggests that the estimated true rate of inflation that is consistent with 2 per cent measured inflation has risen from 1.5 per cent to about 1.7 per cent.” That so-called forthcoming paper, which establishes for the first time ever a renewal agreement has chosen to raise the targeted true rate of inflation, has still not been published. Unless Kevin Carmichael’s highest career goal is to be communications officer for the Bank of Canada he should really denounce Poloz for not publishing his document. Poloz is not the governor of the North Korean central bank and he shouldn’t behave as if he were. Although there is no question that the true rate of inflation was hiked, the public should know what Patrick Sabourin’s calculations were to arrive at this precise 0.2 percentage points estimate. To think that this can remain in the Bank’s private domain, as Poloz does, suggests unacceptable arrogance.

[@crazyhandshands9028]

Welcome to cashless society paper is no more.

[@bloodbought3029]

The brick wall is now in sight

[@vancouveride]

1.75% is already an irrelevant impediment to borrowing. Cutting it by 0.25% is not going to magically produce growth.

[@DavidStanleymusic]

Everything is good until people realize there is nothing but air backking the dollar

[@PlayMyMusicPlaylist]

Increasing rate is not effective to solve bubbles. The bubble is a symptoms, there is something wrong with system. Canada is weak, not able to cap home ownership. Some people find a way to abuse the loopholes. Wholesaling, money laundry, use refinancing or home equity to hoard, or how to speculate and use free capital gain tax, data breach, ineffective self regulating school to real estate association.

[@raynus1160]

Canada needs to ditch C-48 and C-69 immediately.

[@godmessanger9114]

We need to pray for Truedue he yields To God.

[@LiveLongProsperV]

i would really appreciate it if the Bank of Canada would lower interest rates to zero, so i can pay off my debts sooner, if at all. but, i believe they're keeping rates unnecessarily high, because the powers that be, are heavily invested in short-term debt, going forward - and don't know how to maximize their interest/capital gains. this is a situation, where we have phony people in governance. the only reason you'd keep the interest rate at 1.75%, is to maintain the Cdn dollar at its present level. which makes all purchases cheaper, but all short term debt more expensive. Canadians need to start de-leveraging sooner, not later. because later, might be too late, and the nation's national debt is growing too fast now, as well - which puts more pressure on the all social spending programs...sooner or later, they'll have to get real.

[@tomkelly8827]

Well, I would say that it is a good idea for us to not export our goods at cut rate prices, better to store the extra while our dollar is strong and import now, then begin exporting at a greater rate after our dollar drops in relation to others who need our vast and abundant resources in the future. Buy low and sell high, that is what I say

[@patriotdarktolight1780]

EndTheFed !!!!!! Tin air Money.

[@waynekuzek5601]

All the east watch out when you fall its really going to hurt

[@timw4369]

the bank rate needs to hold. Its low enough we need ammunition in case things fall apart. its like the Fram commercial you can pay for it now or pay for it later interest rates at zero hurts everyone and does nothing to help the economy except increase debt. We all need to get back to reality we need savings we need to start acting in the best interest of the future and have a long term plan. Dropping interest rates are just silly and not looking at long term planning. If you have kids or young relatives start thinking about them instead of the selfishness and looking short term for your own best interests Smarten up and the federal government needs to do the same.

[@williammgates7508]

Depression = Trudeau government.

[@MrPhilharmonica1]

Wow! Trudeau gets blamed for everything. People should read their history and not just Canada's to understand how not only Canada's governments, Cons and Libs have affected this country. To blame either Trudeau or Harper is like living in a small town and never going out and meeting other people from other towns. Learning about economics and politics will show how much pressure all of our Prime Ministers have been under when we are living in a World of competition against other nations for resources. We cooperate with our Allies as best as we can even though they also compete against us in trade talks. The Market and Capitalist system of economics and trade are about competitiveness, productivity. Look at the US. two jobs to make ends meet. It is work for longer hours for less pay. So stop your whining and get an education and write your MPs. There is no guaranty in life.

[@khooboobeng2184]

Now is digital age. Still use primitive method to do banking transaction. What a shame.

[@saxytb]

How is more immigrants making e economy better? Average immigrants come to Canada in their mid to late thirties, with one or two small children. In most cases only one of the spouses can get a job, in particular if they come from countries where women are not allowed to work and do not have a college education. They earn low income and are tax exempt for years so they don’t contribute to the budget through paying income taxes. All the while using services that other taxpayers are supporting, such as schools, healthcare, access to social programs and benefits. It takes them years to save enough for down payment for a starter home that by the time they are able to afford are already in their late fourties. Most don’t start saving for pension until they are in their fifties, because they spend all their money on the growing needs of growing family living in the big centres immigrants usually end up settling. Many of them bring their elderly parents in Canada through “chain immigration” because they can’t afford for childcare. When kids reach college age, the parents are strapped with mortgage and other debt that they can’t afford to help the kids to financially cover the college. So the kids end up relying on a low pay job where the competition is skyrocketing because of more immigration. So please explain how does more immigration help the economy?

[@DanielGolf177]

Canada vs US was 1 to 1 now .75 to 1 are you fcking kidding me

[@macgyver9013]

COMER VS BOC