Bank of Canada Cuts Rates: Talks Debt, Inflation, and Cash Injections

#bankofcanada #canadianeconomy #canadaeconomy

The Bank of Canada cut interest rates to 4.25% today, citing a weakening economy in pulling down Canada’s inflation rate. The Bank was asked about Canadian debt levels, inflation risks, and its overnight cash injections are its Press Conference following the rate cut announcement.

Links:

Media availability on September 4, 2024 / Point de presse le 4 septembre 2024:

Bank of Canada reduces policy rate by 25 basis points to 4¼%:

Bank of Canada expected to cut interest rate today and signal more to come:

Bank of Canada ready to cut faster — or slower — if it needs to, Macklem says:

Posthaste: Odds of a half-point Bank of Canada cut are rising, say these economists:

‘We wouldn’t be surprised by a 50 basis point BoC move’: Economists and markets react to Friday’s GDP data:

Bank of Canada cuts key rate for first time in more than 4 years:

Bank of Canada cuts interest rate to 4.25%, signals more easing to come:

Bank of Canada cuts interest rate to 4.25%, leaves door open for larger cuts amid struggling economy:

Bank of Canada raises rate again to 4.25% — but opens door to staying there:

Consumer Price Index, July 2024:

Bank of Canada cuts key interest rate to 4.25%, says economic growth needs to pick up:

Canadian debt hits record high as insolvencies rise:

Posthaste: Interest payments are now sucking up almost 20% of income for some Canadians:

National Statistics:

Wayback Machine – RBC Mortgage Rates:

Posthaste: Credit delinquencies on the rise as Canadians' debt climbs to $2.5 trillion:

Overnight repos:

CORRA: Explaining the rise in volumes and resulting upward pressure:

Bank of Canada assets and liabilities: Weekly (formerly B2):

CIBC says Bank of Canada must end or fix quantitative tightening:

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[zomgoose]

Shelter is 25% of spending? 🤣
I make 6 figures and my shelter is costing me 50% after taxes because of these clowns.

[lindab]

In anticipation for all the "why not 50 bps" questions, that glass is straight vodka

aka the "Stiff Macklem"

[lawrencehalpin]

Thank you Mr. Mitchell. Great report. Better than any main stream media report.

[goodflop]

House prices doubled, rents almost doubled, food prices up 25-40% and more, gas prices up considerably, clothing, you name it and now an interest rate cut of .25%. Big deal there Einstein, that will help a lot.

[markknox]

These people are the country’s top financial minds ? Wow !

[julejustjule]

25% on shelter? What planet do these people live on?!?!

[tz]

Thanks Mark for the update! How about just call this what it is - a SHOW

[donaldmulrooney]

Might be a suprise to a lot of the reporters, but there are people who don't want to see interest rates come down.

[davidhughes]

Great update Mark! Sometimes Tiff looks like he’s going to lose his shit on these hacks.

[argeldelacruz]

I ain’t buying shit till I feel like the world is back to normal

[GenXMindset]

Oh man, I was waiting for this video! I almost bought another house because Facebook realtors told me to "act now!"🙄

[Motiahmed]

He does not return your calls ? Does he return Ron Butler's phone calls 😅 lol lol I think both your and Ron's channels basically form the best and most realistic view of the economy for everyday Canadians

[dinagallis]

Thanks Mark, I didn’t have time to listen to the press conference this morning… getting the info from you is always way better and WAY more entertaining! 😊 👍🏼

[cognite]

Trillions of debt that can’t be payed back ever. The system is broken and there’s no one who knows what to do

[treaty]

Yes ive dwindled down to your and Ron Butler's videos...the most realistic...videos with the most information that us truthful and current.

[investoreyes]

The bank is keeping inflation expectations high, which drives inflation, which is actually what they want. Deflation is the natural result of capitalism, but that would mean the game is over. The fed exists to save the game and produce inflation. There aren't any mass media explanations like this for a reason.

[dinosteiss]

Thanks for keeping on top of this. Good to have someone point out that these two are not the smartest people in the room.

[A.J.Krumins-ikcm]

Does the term "shelter" also apply to tents? Asking for a friend.

[mehrzadrashidkhani]

On the other hand, wether the bank increase or decrease, we are all screwed one way or another.
That is what happens when intrest rates are kept too low for too long initially, everything gets out of control !!

Welcome to Zimbabwe!!

[abates]

May I suggest a poll?
I am curious (because this happened to me) to know how many people have had a surprise credit limit increase since the BOC started cutting.

Would this be seen as a "market operation"?