Will inflation get better for Canadians in 2024?

Bank of Canada governor Tiff Macklem says he expects 2024 to be a transition year as higher interest rates slow down the economy, making way for lower inflation. Economist Armine Yalnizyan discusses Canada's economic future.
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[@gearspecialistmaya]

My dinner tonight was Doritos and water.

[@stephanienguyen6992]

Food prices keep going up daily (higher costs). Salary increase by $0,05 cents per pay period cheques. Big Bosses - get big Bonus. Lower Income Employees - get more works.

[@TravisSloat-ln2xv]

Big boses bring the skills that keep businesses solvent, able to pay wages and not cause layoffs. If everyone could do that, we would never have laid off anyone ever

[@dangal9366]

Food prices not going up daily.

[@gsin311]

Boc people got big bonuses in 2022, i guess they did their jobs right

[@TheAircool1]

@@TravisSloat-ln2xv Correction: big bosses bring the skills to make shareholders wealthier.

[@eddobond76]

5 cents ,per pay period? Are you sure? That's actually pretty good 👍.

[@thomaslonergan9420]

I paid 5.99 for a bag of salad today lol. def price gouging from these massive corporations. everything in Canada needs to come back down to reality..

[@ermac6466]

You know bill gates owns that salad right?

[@tracywatts1459]

That’s why it’s very important to support your local small businesses. If you don’t big corp ends up with the monopoly just like big oil in Texas. The Rockefellers still own all the oils companies in Canada and USA and look at the cost of it. They started out drastically selling oil at a near loss to break the competition.. then once the comp went belly up they moved in and bought up the competition eventually winning over the entire monopoly . slashing Food it’s happening there too. Lowblaws in Canada has gained a huge monopoly and I’ve always shopped there because it’s cheaper but now I’m spending more money on local grocers that support local farmers. and trying to buy more local too otherwise we all end up at the mercy of the select monopoly elites . I still shop loblaws but not in its entirety like I used to.

[@scumbagsteve5029]

are we really asking the same guy who told us that interest rates will remain low for a long time to come? Take everything the federal government and BoC says with a grain of salt.

[@tiwowo1234]

Yep let’s wait till people lose their homes!!!! THANK YOU

[@jlm4836]

In an previous interview he smirked, while he commented that those struggling now are not adding to over spending. Joke

[@teresawilson3893]

You can’t believe any of these filthy liars anymore.

[@JaBlanche]

Why are we still listening to Tiff?

[@Meeksballs]

🎵Lies from the table cloth!🎵

[@ThomasMullaly-do9lz]

I paid attention to the 70's and 80's

[@bowriver1]

Why are they asking Woody Allen about Canadian economics?

[@pablohorst]

Lower interest rates? With the current inflation situation? I don't think so. Also, have take a look at the currency supply. Is Canada having an issue on that regard? Just curious

[@johnbeechy]

inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@DavidMcCalister]

That and the liberals aren't capable of learning... so its going to be inflation causing spending in the meantime and Trudeau wants to stay on to see how much damage he can do... his father got interest rates deep into the double digits...

[@JessT-vg7ib]

I hope he raises them more.

[@anubhavberi4753]

I hope rents goes higher too. As investors will increase rents if their cost is rising.

[@scumbagsteve5029]

​@anubhavberi4753 its a fine line to walk. The government is pressuring the BoC to hold the rates because they will be obliterated even further in the polls. but on the other hand, if the BoC doesnt see inflation moving in the right direction, they need to increase the rates. many people will lose their homes, but if we come out of this after xmas, and they raise and raise and raise because we held on longer. the damage will be a lot more for a lot longer. currently the feds are are arguing in their economic statement that inflation its under control. but they used very skewed statistics, for example with groceries, they say the prices are remaining steady, while that is true, the manufacturers are just putting less on the package. therfore, its inflationary. this is why, as much boastong as the government does about being in a good position, canadians are feeling the pinch, more and more everyday.

[@suomynona7371]

@@anubhavberi4753 that is why rent control is needed to protect the renter and push out those landlords who over leverage

[@anubhavberi4753]

@suomynona7371 if the rent is controlled then builders won't build rental units leading to higher prices. It's about demand and supply. The only solution is incentivising the landlords and builders to build more units.

[@suomynona7371]

@@anubhavberi4753You have not seen how other countries doing this. Not everyone has the ability to own but you also cannot push these people on the street. This is why government has to take part of the solution and build public housing. Those public housing are either low rental fee, or if they are owned they would have a controlled 2nd tier system. If you simply throw the line "demand and supply" then there will be a lot of people on the street. Remember one thing, you do NOT want to be the rich in a poor country. There is consequences.

[@frankslide3532]

The only thing that will save Canada's economy in 2024 is oil. High interest rates in 2023 put projects on the shelves and its going to be slow in 2024. Workers from across Canada will work in the oil patch to save their homes just like before. If oil is quashed, Canada has no money left to create work nor pay out. When that happens, a war happens to reboot the economy.

[@eddietat95]

We're not going to see interest rates come down until at least 2027-2028. Doesn't matter who's in power until then, the inflation is just so significant and so uncontrollable that it will take the rest of the decade for the middle class to recover.

[@googlreviews7813]

That's a very high risk, they must not allow same thing to happen as what happened in USA with housing, if you end up with thousands of people defaulting on their mortgages, inflation will be least of their worries. Canadian economy has always been very intertwined in housing market, it would have massively negative impact all around if people will default on their mortgages.

[@user-ld6wo4rv8h]

You’re assuming the middle class will recover 😂. There will be no recovery. The middle class will join the poverty class.

[@googlreviews7813]

@user-ld6wo4rv8h Middle class is gone, for me in krder to remain in that class I maintain my job at Toyota Assembly plant, I also launched an RV dealership and purchased a farm and we farm, we do all this to still be financially secure and comfortable. If we didn't do that, it would be rough. And this whole thing about political parties etc. Doesn't matter who or what party is running the country, not much will change.

[@user-ld6wo4rv8h]

@@googlreviews7813 Good for you, but for every 1 person like you, there are 9 that are not.

[@ElyziumPrime]

You raise rates - people with mortgage go broke and the economy implode. Lower rates - inflation goes up and people suffer. Call about being stuck between a rock and a hard place.

[@KM-sr9cc]

The interest rates will continue to rise and stay elevated throughout 2024, 2025, 2026, and possibly beyond. The growing global geopolitical crisis and tensions are the major factors in rate decisions by global central banks. Oil and Energy security are other major concerns. Disruption in Global shipping in the Red Sea may cause the supply chain crisis again which would lead to Higher inflation and Higher rates. The big picture of the global economy is bleak at least for the end of this decade. Those who are expecting the rates to be cut in 2024 are blindfolded by mainstream media's propaganda. Ukraine, Palestine, Israel, Yemen, and Taiwan, the hot spots in the world will dominate the news for years to come. It is projected the Israel-Palestinian conflict will cost $1,000,000,000,000 ( Trillion ) alone for the global economy and Canada is a part of the global economy. Global Peace, Security, and Stability are out of reach, at least for now.

[@PontiacBandit902]

Finally someone else who gets it and wants to look beyond the headlines 👏👏. Some people want easy answers for everything and sometimes there isn't an easy answer to provide.

[@mgtowworldwideself-improve3469]

We don't need central banks. They always fail thousands of times in history

[@frankslide3532]

How will employers give raises if they need to pay more for materials and energy and their customers want to pay the least amount to have the smallest loan.

[@ermac6466]

I used to be able to afford to eat out anywhere, but now i cant even afford to eat more than once a day

[@Mrgreen2558]

I just only eat two times a day break fast and dinner . I just cook a meal for six days to eat and in morning take cereal ,eggs and oats meal different days . One day buying outside before 3 times a day and snacks now no .

[@vinhhuynh1774]

There are more than one tool to deal with inflation other than rate high; these economy are so narrow vision

[@dangal9366]

List a couple please.

[@JamesBond77]

Answer = no.

[@rickhayes-oh2zm]

We need a strong loonie. Our commodities which we have will make more money. Did the US have a weak dollar when they where the greatest manufacturing and exporting country in the world.

[@Eons000]

We are the Dollar store in terms of currency. We sell ressources as a country.

[@tiwowo1234]

Oh and wait till business closes!! Already happening

[@shamsnanji2303]

OMG Mr.Tiff let the common man go!!!! You have dinw enough!!!! 😢😢😢😢

[@RusuSilva]

I committed $600K into some real assets like infrastructure and also looked into certain types of fixed-income securities. The idea is to have a balanced portfolio while taking advantage of the current liquidity environment. What are better strategies to optimize my portfolio?

[@FusunTumsavas-cq7tp]

Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. Alternatively speaking to a certified market strategist can help with pointers on equities to acquire

[@immortality64]

Armine is my fav analyst

[@johnbeechy]

inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@djstonge]

Good old days are gone !

[@goranzivkovic8740]

"We don't want to over do it". That's so they can make sure we can still pay them with our last change in our pockets.

[@kiziro102]

3.99 for monster isnt worth it

[@dirtlump]

If DEBT is indeed borrowing from future wages/economic capacity..... then that future has arrived. Intending that at BoC Monetary Policy Rates maintained sufficiently elevated to prevent resurgent cpi inflation moving forward.... the costs of past DEBT servicing as a percentage of current GDI(Gross Domestic Income) derived from Canadian GDP is also equally insufficient to maintain Canadian consumer spending based GDP nor current Real Estate valuations in Canada. Simply put.... 2024/25 will be recessionary rife with a now inevitable Real Estate correction based deleveraging cycle. Those anticipatory of "significant" BoC rate reductions in 2024 for Mortgage renewal relief.... or expressing confidence of resurgent Real Estate sentiments therein stimulated.... are dreaming in Technicolor.

[@funkopopssmoked]

They need to keep going up only way we can balance housing and prices great news after the royal LePage thinks they are tricking house buyers hahahhahhaa prices are gonna go down not up great news

[@joeknowslittle79]

Immediate 10 to 25% wage increase(5 figure salary or below only), six month hold on inflation.

[@AnimeBeefRandoms]

The solution is less government spending and regulation. Let us build more housing!

[@Bigwilli123]

Absolutely, staying ahead of inflation is essential. I've noticed a considerable increase in daily expenses, and it's impacting my overall budget. Investing in assets that historically outpace inflation, such as real estate or certain stocks, seems like a viable option.

[@shangtiwu]

Asking médecins pharmaciens psychologues if urgence waiting hours or babymilk like thefts starving foods to calories exercises

[@S-Ninety]

Just guessing here but... probably not.

[@ktp.]

The few elites have been and continue to spend and consume at levels that created the problem and uphold the status quo.

[@johnbeechy]

inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@alexhakimi7642]

Same way they said rates going to stay low for a long time, now they are saying rates gona stay high for a long time 🤮 Just wait for something to break, watch how quick this clown Tiff Macklem will change his tone!

[@johnbeechy]

they did stay low for too long during the george w bush era, the rates were so low that LBOs occurred and the offshoring of jobs followed. = stupidity inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@rickhayes-oh2zm]

What else do we export but our commodities. Get out of our country cbc.

[@sr-3734tqp]

Supply shocks are the reason. Stop the wars. Pragmatism > Grandstanding.

[@Upstuck]

we are already in a recession.

[@john15008]

Historically, Canadian inflation has always moved in tandem with American. We’re kind of at their mercy.

[@CA-1954]

What is the governor of the BOC smoking...

[@PaulHAMCO]

Shove it Macklem...

[@stanhohmann]

Ahh but we still get taxed up our arse! Out trudeau!

[@alexiapucci4482]

Step 1, remove the Liberal/NDP collation gov on mass spending they do not have , Step 2 make Bank of Canada accountable for allowing it happen.

[@john15008]

Is that what they’re saying down the rabbit hole? Thanks for showcasing how little you understand about economics. Canada is not in an economic cocoon.

[@mahtabali4256]

I don’t trust Tiff Macklem. He proved himself multiple times wrong. He is still bluffing that interest rate need to be increased

[@Viewpoint11]

I agree. This guy is a pos. At what point do we stop doing nothing about it and start protesting in the streets in front of his house, grocery stores, energy companies etc. Seems like people only protest for silly things but when it comes to actual big issues there is no one.

[@johnbeechy]

there was no reason to raise rates as rates do not change the prices the shareholders want, so as to make more profits. grocery stores are an example inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@rupasandhu6061]

​@@johnbeechyyou need some education. Inflation is not a business decision. It is due to government printing money and overspending on things like public health care, immoral wars etc....

[@johnbeechy]

@@rupasandhu6061 to recap/summarize 1. the Central Bank prints money the Federal House of Commons adds debt which has to be paid off later, 2. printing off of money means 'no debt is added'. review germany 1930s and how they Printed money over not, and that created hyperinflation. when a legislative authority, the House of Commons, passes a debt Harper passed over $110 bn due to the great recession era. it is debt, and not printed money IF U mistakenly used English to public your thoughts and r not of English, I could see u typing 'printing of money' was meant to be 'the govt added debt'. BUT the words are all used in the lower classes so i can not imagine u being that low graded to not know the difference between 'printing of money as adding debt'. the House of Commons passed the debts as to be paid later Harper has done it too trudeau used the House to pass the debts No printing was done not of new currency beyond the needs of the soon to be a cashless society although cash will never be killed off 4 many reasons

[@johnbeechy]

@@rupasandhu6061 PS i never took a dime from any level of government, during the handouts due to the Covid. Did U take any of the handouts? if u did take take take then u are guilty of accepting the govt's new debts and by law, must pay taxes to render that debt paid (later of course). i refused their serb/cerb handouts and i also refused their business loans so I am the Non sinner that gets to throw the Stones, as per Jesus note: Jesus was a dark skinned Judaist (at the time of His speeches) that never preached to any white people, as per Moses' Tradition of 'not converting whites to the faith'/. so even if the Judaists were in charge, i would still get to throw the stones under their Christian Sect's rules i can willing full ly miss my option

[@BudzzableRides]

Inflation will rise with each carbon tax increase like always. Rebates are a joke!

[@zwicker5585]

Carbon tax accounts for about 0.2% of last years 3.8% inflation. In a year of spending it costs me oh idk 0.038*0.002*(1k/month spending) = 90c increase. I make 60k a year before taxes and get 100$ in the mail. Its corporations paying that tax not you. But youve fallen for the propaganda that this isnt whats ruining the economics of our country

[@amerjeetsingh9215]

Why you giving bonuses to your employees $3.5 millions, Bank off Canada employees get $3.5 millions bonuses, not inflation for them you corrupt, arrested them through them in jail.

[@Hoovie9596]

No. It won’t. There. No need to watch

[@aaronvallejo8220]

If geopolitical and climate uncertainty is mounting let's be proactive and roll out low cost, large scale renewables in all regions especially on the prairies connected to east/west high capacity transmission lines to reduce our carbon emissions while stimulating rural economic development.

[@philhockridge3380]

is that you geebo

[@aaronvallejo8220]

@philhockridge3380 No, just a concerned Canadian citizen. Our cities can now see Medicine Hat AB as an economic model. Half of their tax revenues now flow from new wind farms...allowing the city to stabilize property taxes for its families and businesses. New wind electricity costs $1 million per MW enough to power 500 homes.

[@peterbutz642]

The only bright spot out of all this inflation and high interest Which is it ends up hurting the GTA and Vancouver the most that is poetic justice

[@rickhayes-oh2zm]

mr. magoo said it was transatory. What a crook. His job is to stop crook pm borrowing and spending money on garbage.

[@brandon1113]

what a joke.

[@adam7476]

Economy is going down

[@walkerhaw5468]

2024 is going to be far more bloody than 1929.

[@darshiliyanage9429]

This man is not worth the cost of canadians

[@Gingerbread956]

😮😮

[@allannielsen8696]

Well.. sign petition e 4701. We need to get rid of this current government...the petition will not do that but it will send a message that we do want change...that is if enough of you people that are unhappy with today's current government sign and let them know...we do not support this governments policies...

[@MrBojo-jv4qq]

KZbin still keeps the dislike button deactivated. WOW

[@rickhayes-oh2zm]

A strong cad with give higher prices for our commodities. Which we are. you have a job. jeeannieawj

[@johnbeechy]

inflation is a business decision, usually made to increase margins. larger margins mean more profits. profits Never go into the GDP. the GDP is the economy. Lowering interest rates is the proper move. the rates never should have been raised to begin with because interest rates do not stop shareholders from raising prices for more profits. basic grade 10 business class // currency supply is not relevant the americans had their FED R buy $4 trillion of company and city bonds. I do thank u for your service in the lower waged sectors Thanks to u, the shareholders profited more than ever before. again, Thank u for your service

[@johnbeechy]

@@chineseRATFACE Not true corporations have shareholders that want dividends. all the printing of money by the USA Federal Reserve in 2020, to the tune of $4 trillion, did not create any inflation. so u must have missed that Fed Meeting (under trump). the money is not diluted and note, when ever the CDN $1 is less and less, CDN factories get more orders to make more stuff. when Harper raised the CDN$1 to par with the USA $1, it was due to the americans buying Billions of CDN$$ so as they could buy and invest in Alberta. once the CDN $ 1 went par, Ontario lost 250k manufacturing jobs of course the jobs have come back, due to the lower valued CDN$1 The CDN central bank did not print more money, at least not as much as the USA FED. the handouts were done by the Govt. and the Govt only added more debt, like Harper did when he added over $110 Billon to the national debts. Show me why there was no inflation when the Trump had his FED print $4 trillion under / using your theory, there should have been inflation rt away due to the $ 4 trillion of new money and the USA does not use a Gold std they use their military to guarantee they will pay what ever they print i welcome any evidence u have of course, there is none but good luck a theory is just bullshit unless u can show evidence 4 trillion of printed money and no inflation to speak of // Merry Christmas

[@TurningoffyourGaslights]

Don't worry, never fear...Trudeau's carbon tax will fix everything...especially the price of groceries and heating your home...2024 will be just peachy-keen.

[@davidgraham5040]

Vote for Trudeau in 2025 here how 2029 will look: 25% inflation, 20% interest mortgages, 2 million dollar average home, 70% unemployment, a social credit score with late night curfew, 4.5 trillion national debt, half the nation homeless

[@VEGTheAgingHippie]

Vote for PP in 25 and by 29 you'll have private healthcare, lousy wages, a 20% interest rate, huge tax cuts for corporations, massive corruption, no social programs, 4 million dollar average home price, illegal weed and a police state.

[@jamesbruce8749]

Tell me what the PC's plan is, and you can't use the word Trudeau.

[@timothyj1966]

‼EVERYONE unhappy with Trudeau & Singh Coalition! PLEASE ****** SIGN & SHARE Fed Petition e-4701 to call a NON CONF VOTe!⚠ ⚠

[@debbiemurphy5414]

Vote Conservative 2024

[@Eons000]

What do you think they will do ?! 😂 You think inflation is a pet you choose to feed or not ?! 😂😭

[@user-js8rf8xx3c]

Not with CBC being around

[@bob1519]

Justin is not going to pay his mortgage…

[@Eons000]

Sophie is leaving with half anyway

[@m30163]

The super rich should pay all of it back

[@cjxvi]

I remember when I first came to Canada and had my first full time job and its minimum wage of $10.25 back then but I was happy and can even splurge a little bit for myself, I also remember how full our grocery cart is with $100 budget, I even told myself that if I at least make $20 an hour I will be more than happy, now I make way more than that but I feel more broke than when I was a minimum wager 🥲