BREAKING NEWS | Bank of Canada cuts interest rate by 50 basis points to 3.75 per cent

The Conference Board of Canada's Chief Economist Pedro Antunes reacts to the Bank of Canada’s interest rate decision.

THE CANADIAN PRESS/Sean Kilpatrick

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[GillerHeston]

Really, banks require more regulation. The entire idea of banking as "let's gamble" is terrifying. Because they discovered in 2008 that the government will always bail them out, there are no repercussions. These bank crisis are so worrisome. This whole financial crisis and the Great Recession posed the most significant macroeconomic challenges for the United States in a half-century, leaving behind high unemployment and below-target inflation and calling for highly accommodative monetary policies. And this is only the beginning!

[Stevierockie]

These rising interest rates are making it tough to manage my mortgage and savings. Should I be worried?

[sunking]

Does anyone believe that inflation is 1.6%? How dumb do they think we are?

[leonardmacaulay]

Cutting the rate to hopefully cut down the number of foreclosures/defaults that the banks have been begging the Bank of Canada to set aside billions for.

[ChinookChgdngs]

mightytravels AI fixes this. Bank of Canada cuts rate.

[E.J-fh]

In other words the economy is in the crapper…..and we caused it with high interest rates….too high for too long

[palestinelucas]

Welcome to crazy housing prices. Thanks for making canadians homeless

[andyd]

Short term solution, long term disaster.

[NaturalGC]

We need to build low cost homes. Halt the condo and housing market. Regulate the major 3 banks, tbe major 3 communications companies, the major 3 grocers.

We need to slow down corporate Canada, and make life affordable.

[Ont]

That’s fantastic!
What’s my mortgage for my $2million 2 bedroom bungalow?

[shirlawstein]

Inflation coming down but recession steaming ahead.

[thecopyright]

Y’all got any more of that wage inflation?

Haven’t seen a raise since 2016.

[d.flaherty]

Another favour done for Justin and Chrystia?
Won't do a thing for housing👎

[kevinn]

This is a panic move. We've seen 7 quarters of contraction and the BOC has nowhere to go because they have 2 economies to deal with. The real estate sector and the rest of the economy.

A 1.6% inflation rate means we are heading for a recession while the real estate sector still refusing to correct. Quite frankly, I see 8-10 yrs of stagflation if we don't deleverage from real estate.

[Redmongoose-rdm]

That rate needs to be at 3% at this point.

[AdRaz-mtbn]

Isn’t it funny how this is perfectly timed with Trudeau being on track to get ousted out of the party?

Thanks covid, so glad no one faced any consequences

[logiczchance]

why are the markets being manipulated with in this manner? isn't this interference into people's day to day matters? and why are they doing it now..why keep the rates high just to bring them back down as per their decision? why is there no independent oversight; not accountability?

[mingzhu]

If the inflation is low now why I didn’t see price drops? How inflation is calculated?

[indenero]

They have to help Trudeau... lower rates is what caused the problems and they want to do it all over again...