a quarter percentage point to 4.5 per cent on Jan. 25. Since March of 2022 the central bank has hiked eight times, adding 4.25 percentage points, to bring its benchmark rate to a 15-year high., where activity is down almost 40 per cent and prices have fallen roughly 15 per cent, McKay said.
However, McKay said unprecedented amounts of liquidity still held by consumers and corporations should prove a big buffer to any downturn. McKay said the liquidity has swelled to about $300 billion from about $40 billion that consumers and businesses had on hand before the pandemic. McKay estimates the “unprecedented” amount of liquidity is almost 20 per cent of gross domestic product.Article content
That’s not much the way Trudeau spends other people’s money.
BS. Sh*t load of national debts still on the balance sheet
Where is this && coming from? Last time I checked the budget was not balanced and we’re were printing 500billion of new bills to pay for current programs
Not how it works
How do I get some of that money!
First of all, that's straight bullshit.Our debt is in the trillions so it's not cash, it's a line of credit for fuck sakes. Secondly, Trudeau would piss it away like a drunken sailor on crack.
I don’t have any of that $300 Billion and neither do most Canadians.
RBC's CEO certainly making us feel good but if I went in as a Country for a loan and said I OWE 1 Trillion or 1000 plus Billions he would likely say hit the road MacKay! But we do owe that or more!
all for Ukraine nothing for Canadians that is reality
Lol
And sitting on a $1.3 trillion national debt ! Not to mention the provincial & municipality debts …
The buffer is called taxpayers.
It won't soften the blow for taxpayers
Is that Canadians savings? Wasn't Freeland coming after that too?
Trudeau will piss it away faster than Florida hurricane…
Sending more to Ukraine should help.
The buffer from Canadian tax payers claiming bankruptcy and poverty.
Theyll be send that to ukraine once those 4 tanks we sent are blown up.. its inevitable..
I smell bullsh*t just like job losses. I see right through it.
... Which will be spent for buying votes!
And that comes from a bank so.... Does that money really exist?
$300 billion in cash on balance sheets. That's uninvested $, risk avoidance in today's market.
Which they stole from us with higher interest rates.
Ukraine will be fine. We’re fucked but who cares.
bankofcanada high interest rates help banks period. It raises cost of living, makes businesses close, make redundancies to save money elsewhere (high unemployment) people get in debt as can’t afford bills/utilities/food. Lack of housing…etc etc, but banks are making billions
Soften it for who
Wonder where this voice was when the federal govt was busy printing money like mad? Consumers should be under no misapprehension that the Big 6 banks have their best interest top of mind.
That’s like having a buffer bag of quarters to pay for Toronto downtown monthly parking
Well if RBC has that cushion. It would be rather nice if they trickled something back to their long-standing customers!
You can’t spend your way out of a recession. Spending beyond our means *causes* recessions.
How to add to inflation for dummies. Brought to you by the Liberal gov and the National Post.
Nice to see where my $17 monthly chequing account fee goes!
Don’t tell Trudeau. He’ll spend it!
The good news, all the terminologies are dished out to blame everyone else and never themselves. Wishy-washy but shareholders only wanna see dividends
Ya righto. Just more tax debt that the working class will have to pay back. More debt means less for everyone including those that don’t work.
Canada is sitting on cash because there’s no place to invest but in real estate and that’s on pause.
Since so many people always want to compare Alberta and Norway but AB is not a country so I will ask this. Why does Canada a G7 country with a huge size & natural resources not have a $1.1 Trillion Sovereign Wealth fund like Norway :)
I smell bullsh!t
Debt offsets the buffer I would say.. we break even?
How do we have a cash buffer when we are so fat in debt?
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