Bank of Canada cuts key interest rate

A sigh of relief is echoing across the country as the Bank of Canada lowers the country's key interest rate for a second time this year. Ottawa correspondent Glen McGregor on the optimism coming from banking officials.

[anthonym]

Sigh of relief for who? For those that made the bad decision to take on more debt that they could afford? For the bankers and politicians?

[Wthcdoctor]

Monetary policies alone will not reduce domestic inflation in residential housing costs. Lower interest rates would mean a cheaper Canadian dollar - which could lead to higher prices for our imports (of mostly consumer goods). Add to that the likelihood of the next USA government implementing punitive import tariffs. These tariffs would make our exports (of mostly producer goods) to the USA more expensive to American buyers. Fiscal policy changes (less federal government overspending and lower taxes) and a drastic reduction in immigration are necessary to boost productivity, retain foreign investment and also avoid inflation.

[williamterrymasters]

What’s the big deal don’t any of you have power and control of your own destiny?

[theMoney]

Yep, this will lower the value of CAD. This cut is inflationary...housing, rental, food, energy, services, goods....all going up. Unions getting raises with each strike. Wait until Air Canada pilots get a 100% raise soon. Stagflation is here baby. Can anyone afford to take a family to Mcdonald's for a substantial meal anymore??....say no more.

[dawnelder]

Herr Trudulf wants to increase his chances.

[Some]

Until September when everyone slows down moving and school starts

[williamterrymasters]

I don’t have any power and control One GOD has all power and control over me and you

[williamterrymasters]

If you think you have power and control what don’t you Believe in One by a Spirit?

[BN-tsoy]

Slowing economic growth catalyst is when working, savings becomes a chore. Freeland tacked on her financially illiterate policy to increasse inclusion tax of 250, 000 capital to have people pack up and leave for better returns elsewhere, Canada becomes nothing more than welfare.