Reaction to the Bank of Canada lowering key interest rate again

The Bank of Canada cut its key interest rate for a second consecutive time on Wednesday, but warned the path back to two per cent inflation may be uneven and would ultimately determine the pace of future rate cuts.

The central bank says its decision to lower its policy rate by a quarter percentage point was motivated by easing price pressures and weakening economic conditions.

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[Bobobaggins]

This country is in a dire situation. Debt has become acceptable and society is allowing itself to be strangled. Go ahead, get your 40yr $800, 000 mortgage. Let your children inherit your debt and poor financial skills.

[jmjm]

Boc has done nothing to bring down house prices in Ontario.canada needs to replace the current boc governor.

[dylanmcconnell]

Interest rates drop and fuel prices rises…..makes alot of sense

[tvted]

People are delusional if they think interest rates will come back down to 1%

[bradcanning]

Interest rates have nothing to do with greedfllation that is resulting in record profits by corporations who control everything including our food.

[drewa]

Yippy! Now we can watch the price of everything increase again. I’ve noticed a slight price increase on daily staples already!

[dracorpgroup]

The real problem is that since 1971 and the decision by Nixon to cut the link with gold the US dollar has been devalued. The huge deficits since then, except for the Clinton surpluses, needed the creation of more dollars.
As a result, the dollar has been devalued. So, we are buying the same things with devalued dollars. This has meant that a little house that could be bought for $10, 000 in 1971 now cost $300, 000. A dollar today is worth $0.03 compared with a 1971 dollar.
It is the same thing in Canada. There is no way this can be reversed. Clearly, both the US and Canadian governments see deficits into the middle of this century.

[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.

[typeneg]

Slave to the lender.... 2008 all over again, lower rates because if you keep the rates, something is going to break...kick's can

[gaetanomagnifico]

Canadian dollar will drop against the USA dollar.

[brianoconner]

Tiff Macklem should have resigned in 2021. He failed doing his job when inflation skyrocketed and waiting too long before increasing the rates.

[KaleighMacKay]

I’m leaving the country cause I can’t afford to live here. There are many other countries where I can afford to live on the 32 hours a week income I make now (even after exchange rates)

[babbalonian]

What they're really saying, Aug 8 Bank of Canada just raised real estate prices and new rent by .25%

[bareknucklerc]

When this guy said “we might fall into a mild recession”, man out of touch. Go see the lines at food banks, talk to people leaving a grocery store and say that, might get punched.

[wallybartfay]

This cut won't help 60 percent of individuals who have to renew their mortgages and will lose their homes.

[HeWhoReplaysGames]

Until I see prices fall back to 2020 levels. I'll never trust these interest experts.😅

[Bigjohn]

They cut because the banks ask BOC to cut rate even though inflation still so high

[LastMile]

Don’t spend money you don’t have you in government or personal finances

[brianvanderkley]

People are dying in the streets, and the government and banks are stepping on their throats. We are heading for a hugh fall, not in a good way.

[supergeodotca]

Is this change in interest rates for political reasons, or is there an economic reason for it?