Bank of Canada Cuts Rates: Talks Tariffs, Recession, Immigration, Housing

#bankofcanada #canadianeconomy #canadianrealestate

The Bank of Canada cut interest rates by 50bps this morning, holding a Press Conference thereafter. The Bank addressed tariffs, a potential recession in the Canadian economy, as well the reduction in immigration and its impact on Canada’s real estate market.

Links:

Media availability on December 11, 2024 / Point de presse le 11 décembre 2024:

Media availability on December 15, 2023  / Point de presse le 15 décembre 2023:

Policy interest rate:

BoC delivers jumbo interest rate cut, signals slower pace of cuts moving forward:

Bets are high for another big cut by the Bank of Canada on Wednesday:

Bank of Canada makes another hefty rate cut with slower pace of cuts going forward:

'We're in a recession,' says former Bank of Canada governor Stephen Poloz:

Government of Canada reduces immigration:

Policy interest rate:

Bank of Canada cuts its policy rate by another half point:

BoC Governor Macklem speaks on outlook after cutting policy rate by 50 bps to 3.25%:

Bank of Canada cuts rate by half-point, signals ‘more gradual’ approach to further easing:

New 30-year mortgage, down payment rules stoke fears of rising home prices:

Mortgage Rule Changes to Add Fuel to Canadian Housing Recovery:

Canada’s oil patch rattled by Trump's tariff threat:

Bank of Canada cuts rates by half a point but signals ‘more gradual’ pace:

Bank of Canada holds interest rate at 5% as economy stalls:

Canadian dollar holds near 4½-year low ahead of BoC’s rate decision:

Canadian dollar rallies on central bank's more hawkish guidance:

 
Mark Mitchell – Mortgage Broker London Ontario
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Commentary on this Channel should not be considered financial advice.

[timw-ON]

Giving a conference every meeting is good, because there is at least one youtuber out there who points out - with evidence - where the media are falling short of their presumed goals... keep it up Mark!!

[cryptoholica]

Lowered rates and a 250 check from our hero, yay!!!! Best Christmas ever!! I'm talking a long vacation to the bathroom toilet.

[dinagallis]

Mark what can I say!!! You’re the greatest YouTube reporter out there on this stuff!! Thank you 🙏 😊

[JohnBrown-njbc]

I’m thinking about investing but unsure of the first steps to take. Any recommendations?

[adammarshall]

.50 again means economy in trouble 👍🏻👍🏻. Not going to help housing! Only refinancing.

[professordogwood]

Mark, only you can take a Bank of Canada press conference and turn it into an ET/TMZ style, speculative gossip piece. I'm not knocking your observations, I think they're awesome!

[mogulrider]

For the noobs who have never through a complete business cycle.
That is the bottom in March 2009 into 2025. It is this period that I bet most of you have lived your adult life.
Unfortunately, most have not seen the final bottoming phase. It's a difficult time for most.
Just so you know....
Every recession is signaled by the Auto sector. It is the last of the forward looking measures I use to discern when to go to "cash". Well, I'd say we have that measure now complete.
- GM shutting down Cruise
- Volkswagen desperate to cut costs, labour, & close plants to “save company”
- Nissan down to 12-14 months of runway
- Stellantis sales have fallen off a cliff
Remember this - the stock market is not the economy. The stock market is a repository of money - it doesn't' reflect economic conditions until the recession has completed.
Weird I know...

[petervanhaeften]

That's a great idea mark set up charts keep score show people that this is nothing but a well-orchestrated show

[bvyner]

Great Idea with the Journalists of the Year thing!

[gmarks]

Our economy is super strong! Lets goooo 😂😂😂

[dannyboywonder]

Glad i clicked, thanks for another awesome video keep it up !

[wyattbaldwin]

I kept waiting on a Question from you during the rate announcement, but sadly we arent lucky enough to get that. Keep doing your Videos Mark they are Great!

[datruth]

Why else would you be cutting like lumberjacks if we weren't in recession!

[kevinn]

BOC is in panic mode. Our economy is underperforming because it's way too leveraged to real estate and commodities. Unemployment is at its highest in yrs. Multiple quarters of shrinking per capita GDP. Only gov'ts are hiring now.... We are in a recession. Our GDP only saw growth because of immigration. If the tariffs come, and they cut int rates hard, watch our CAD dump into the 60s and that will cause more inflation.

[rustcohle]

Who else noticed Tiff's little sigh/farts while he was speaking, he plays it off so well, no lip movement to identify the sound origin, smart people will just play it off to the audience or mic distortions. Its anxiety and nervousness imo

[thevanman]

Personally I am going to savor the whipsaw coming from inflation roaring back, eggs on face for the governor. Rates need to beat least 6%.

[lawrencehalpin]

Thank you Mr. Mitchell. Great report. Love the award for next years journalism.

[KevlarShrek]

thats a great idea for next years rate cut questions

[minidakota]

Mark, in your experience how long does it take for BOC rate cuts to start lowering advertised mortgage rates?

[Guruv]

Can you also by chance speak to the effects on Auto Finance loans and interest rates ? Thanks