Orlando expects the Bank of Canada to say it doesn’t foresee the need for more rate hikes, but that it will keep monitoring how economic conditions evolve. That way, the door is open for further rate hikes if necessary, he said.Article contentSince March, the Bank of Canada has embarked on one of the fastest rate-hiking cycles in its history.
Yet up until now, economists say much of the decline in inflation has been caused by things outside of the Bank of Canada’s control, such as lower energy prices.Article content As the Canadian economy reacts to higher interest rates, many economists are saying Canada will enter a mild recession this year.
The only reason they’re doing this is to purposefully drive the middle class into insolvency.
I’m guessing everyone on here didn’t recognize the historical low rates for last 12-15 years? I haven’t paid over 3% IN MY LIFE. Rate increases were clearly coming…..it was unsustainable.
Are they providing extra lube so it doesn't hurt so much
Meanwhile, people in my neighborhood still bitting on houses and paying more than they’re worth! This is going to be a huge opportunity for people that have millions in cash to buy property at reduced prices. If your not carrying a mortgage the rates don’t affect you. In fact…
If the Feds goal is to destroy the lives of Canadian citizens, they’re doing a heck of a job. All so we could hand out free money…
Pow right in the kisser
That should make everything more expensive and cool inflation. It’s magic!
Glad I don’t owe any money to the bank, unfortunately my pay cheque gets deposited there not much I can do about that
The people of Toronto and other liberal ridings through our Canada voted for this and I blame them for it.
World inflation is exasperated by JustinTrudeau careless spending, and useless carbon tax. Maybe the NDP/liberal_party coalition should start with stopping the carbon tax, and stop overspending! That’s a start to making things more affordable
Rosenberg said that the BOC has overreached with these gangbuster hikes yet here we are again. Macklem needs to either take a breath or resign.
These scumbags should be fired , they screwed up their only mandate , hold them to account!
So how many Canadians will the Liberals add to the already unprecedented number of bankruptcies this week against? And making it worse Canadians have to see all the liberal_party bs all week on how they pretend they are making life more affordable. TrudeauMustGo
Come on everyone, just cancel Disney+. Our government said it is that easy.
Mofos
I find it funny that most mutual fund managers were saying in early 2022 that inflation was going to be worse and sticky - how did they know yet the BOC did not - this is an epic fail from the BOC period end of story
Perfect the bank doesn’t own enough of peoples properties the last couple years they need more ?
We're infor a rough ride
Because as we all know, people are more than willing to see increases in mortgage rates
Fuck, enough already...
Had they probably managed finance and listened to the original finance plan for CERB instead of going with what will get the headlines we would have avoided this.
It's called 'Sunny Ways'! Stop being a fringe minority with unacceptable views and be poor quietly. Liberals can't be rich unless you're poor.
They just got their WEF marching orders. Accelerate zee plan to bankrupt all Canadians.
That’ll fix “inflation” 🙄
JustinTrudeau is killing Canada...
If the idea is to slowly force people to lose everything… and stupid humans dont take note… then dont complain when you have nothing. They are showing you that they are going to squeeze you out. Do something about it or get swallowed.
Good on them... killing the economy. Enjoying our money in their stuffed pockets.... while telling us that they are protecting us. Good scam you have there
It will go much higher
Thanks Trudeau
Surprised? Turdo still handing out taxpayers money to foreigners abroad and buying votes in Canada.
It’s working
Welcome to Truduhh's Canada where everything is now ridiculously expensive!
🤣🤣🤣🤣🤣🤣🤣
This is ridiculous.
'making life more affordable'- liberal party of Canada.
appears BOC. is bankrupt !!! no control over economy or money supply !!!
Thanks Trudeau
If this is what's causing the interest on my savings to go way up, keep the increases coming!
Rate hike the billionaires and millionaires the can take it… this just leads to more small businesses closing and more people leaving for the streets either temporarily or permanently… it’s kinda getting ridiculous….
We are free range humans living on a tax farm
Remember when they said to spend spend spend because rates will not increase? Like Trudeau they are full of lies.
Of course it is because Trudeau is till throwing money around like a drunken sailor on leave
Bring it!
🖕
Stop enough!
Never trust anyone called Tiff.
Given the prices / wages of today, it’s the equivalent of double digit rates of the 80’s…perhaps even more.
the key issue causing inflation is low Production domestic & international. Driving up Interest Rates only hinders Economic growth the hole Economy runs on Credit never mind how many Home owners are going to loose there homes 1600% increase in 12 months is bad enough
Looks like I'll be living in a cardboard box forever, but at least I won't have to worry about a high mortgage rate! ForeverRenters HighInterestRates
Is he prepared to go to 21% of the 80’s? So that everyone loses everything
For people that put faith in their gov’t/public “health” over the past three years and denounced anyone that chose to question the gov’t. Are you really going to speak up here? Because you should really trust the financial experts.
Good! The higher the rates, the more Liberal voters suffer!
For sure drive it into the ground!
Oh they haven’t erased enough generationlnwealth from the middle class yet?
Excellent news!!
Bait and switch
And when has the Bank of Canada advised the government to curtail spending? Never.
cbcwatcher Horrible mismanagement, doing this to people working hard on paying mortgages and purchase debt. Macklem swept into politics and deception, til it was too late to do a responsible job. Now, panic interest rate rises,crippling normal budget coping of ordinary people. Disgusting
They are killing us. The Bank is Causing Inflation and we will see a huge recession.
not enough of us are poor yet... has to keep going ⬆️⬆️⬆️ until we better resemble the environmentally responsible 3rd world country they think we should be.
We can thank the liberals and their money printing for impoverishing us all.
Bank of Canada:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: ottawasuncom - 🏆 4. / 92 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: CTVNews - 🏆 1. / 99 Read more »