Bank of Canada expected to raise key interest rate by 0.75% today

Most economists are forecasting the central bank will raise interest rates by three-quarters of a percentage point, bringing its key rate to 2.25 per cent.Following last month's rate announcement, Governor Tiff Macklem said the central bank “may need to move more quickly” to bring inflation down.

The Bank of Canada will also release its quarterly monetary policy report with updated economic forecasts. In a note, CIBC says it expects the central bank's growth forecasts to come down since its last report because of weaker GDP growth in the second quarter.

Follow the lead of Britain, enforce a windfall tax on companies with record profits and see how fast prices come down. Quit killing the little guy!!!

Poor millennials about to be so excited about housing down 40% only to find out the credit markets are dried up and their job may not be secure. Just buy Bitcoin folks. Real estate is not your store of value anymore.

Everything gets hiked and hiked but less is done for everybody

Wf is this bullshit

During a supply chain crisis, raising interest rates will only exacerbate the problem.

To the people bitching about this… we were at historic low rates during the pandemic, did you really think that it’s gonna stay like that forever?

Are u glad u didn’t win bidding war now

Buyers get ready.

All planned. You will own nothing and be happy 😃

You get what you vote for! Liberals created debt by spending money we don't have, and Bank of Canada printed the money out of thin air to make it happen. Inflation 101.

TANSTAAFL

A clear indication that Govt. is working for corporates. 1. First they let the prices go up, builders/govt earned. 2. They started increasing interest rate, banks earning. 3. Prices dropping, Builders stopping projects, they will give subside to builders for affordable housing.

Student loans, line of credits which small businesses have used, mortgages & car loans will all be impacted and NOTHING will happen to inflation. Nothing! They keep saying a lie to make it true. Raising interest rates will NOT lower inflation.

I just saw a house go from $1.4Mil in Richmond Hill to $999,000. Not sure what the sellers tactic is or position but looks like some are trying to exit the housing market.

But us slaves are happy that gas went down a few cents

Also the US will report negative GDP on July 28. The last time they raised rates with negative GDP was 1929.

I can tell most comments here don't understand that the inflation everyone is upset about. Comes from the cheap credit low rates that we have enjoyed for so long. I also understand the BoC is not serious about fighting inflation by keeping the interest rate lower then inflation.

Everyone please turn to page 1 of your Macro Economics 101 textbook.

Disappointed…. More stress Canadians .. bankofcanada

If rate hikes are news to you, you might not be smart. We dropped them to 0%, and now we have inflation, of course interest rates will go up - that wasn't sustainable.

Welcome to the recession.

Liberal logic

All part of the plan. Own nothing and you will be happy is their slogan.

Why is anyone surprised. Been warning of this for 3 years at least.

What rising Canadian interest rates mean to indebted variable rate mortgage holders

Inflation will keep rising. Interest rates have nothing to do with Trudeaus money printing press

I feel for people who had to utilize credit cards or lines of credit during the pandemic. Those people are going to suffer and people will lose their homes. Not the best time for a variable mortgage either.

Sure, let’s raise rates so people can start losing their homes. What a disaster coming! 🤬

Thanks for all of this, lockdown fans.

Fucking hell

I guess if they never lowered it to such a low ridiculous rate in the first time and left it around 2% during covid we wouldn't be in these problems are these people nuts

What a good way to help Canadians with inflation costs. Raise the key rate another 0.75%.

This is really going to help Canadians

📡🧠Dogecoin🔜🌖 cause FK⚠️Inflationary products and money is trash 🗑 🚫🏧🚮🛰

Let’s continue dropping these home prices boys

😩

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