Canada's inflation rises to 2.9% in March: instant reaction
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- Опубликовано: 28 апр 2024
- Pedro Antunes, chief economist at the Conference Board of Canada, joins BNN Bloomberg to share whether this may help the Bank of Canada cut interest rates in June.
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Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
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Huge government spending, inflation is up, but interest rates are going down ??????????????
Actually this is good news
welcome to Canada, where everything is fked
If rates go down the government will just spend more…
Exactly
It clearly doesn't matter to the Liberal NDP what interest rates and inflation is doing. They will continue their pork barrel spending programs to bribe voters with billions of dollars of "free" money. It's almost as if there will be an election next year or something. 🙄
The government will spend more regardless rates.
I highly doubt BoC rates are headed 'significantly' lower.... if at all until demand destruction/recession and more importantly a much needed deleveraging cycle is well underway in Canada..
Dont worry , cuts are coming, hahahahahahahahahhahahahahaha
They should be. Rent and mortgage interest is causing high inflation. So lowering rates will bring down rent inflation and mortgage inflation that's at 8 and 25 %.
War around the world causing gas inflation.
I love these justification for core inflation. About how they're trying to remove volatile things. No the whole reason for core inflation is to mask real inflation. What they remove are the things that inflate the most. And the things that the majority of a normal household budget goes towards. Core inflation is 100% meaningless as it does not paint a picture whatsoever of what an average household is dealing with.
LOLZ. Guess who's not the economist in his own household.
@@roofpizza1250 is that supposed to be a dig at me? Core inflation takes out energy and food. If you don't think that that is where most of your money goes, I feel like you're the one not doing your own budgets!
@@roofpizza1250😂 guess who has No Grasp at all - Playing the man instead of the ball.
@@Green__oneinterest rates are meant to bring down inflation, but they only bring down core inflation. Interest rates don't have an impact on food and energy costs. So yes cpi provides the full inflation picture which the government takes into account when adjusting finances like cpp to be inflation adjusted, but as far as bank of Canada is concerned, they only look at core inflation since that's all their interest rates can control.
@@blankyfang2348 And wrong again. The bank of canada does look at both, but they cherry pick which ever one fits their narrative. We see them flip flopping on it all the time. And yes. Core inflation is 100% meaningless in the real world. And no, food and energy prices are not immune to interest rates.
Yeah sure just ignore gas and food prices and we're good.
Video title is that inflation rises, commentary is about how it's falling. Can someone decide which narrative they want? Also 2.9% is still 50% higher than target, and therefore in any sane economy would indicate that it is time to raise rates, not lower them. Rates are still at historic lows, and we are repeating the mistakes of the 70s all over again, where they didn't raise rates enough, so didn't get inflation under control, so when they started to cut, inflation skyrocketed to double digits requiring double digit interest rates to match. If we don't want double-digit inflation and double-digit interest rates, we should have significantly higher interest rates in the short term to prevent much longer term pain.
Of course it would also help if we could have someone sane in government to stop the money printing causing the inflation!
5% is a 23 year high not a historical low
5% is average rate through history. It is neither high nor low.
Math and economics is hard
@@bdegrds no, the last 20 years have been an abomination. And that's why we're in this mess now. Interest rates that were too low for too long encouraged reckless spending and made us the most indebted nation in history.
@@gcc8584 exactly, it's the neutral rate, you can't fight inflation by keeping your interest rates down at the neutral rate.
Raising interest rates to tame inflation worked in the 80s doesn't work in 2024. You wouldn't go out and buy a boat or your second home or a fourth vehicle! In the 80s
2024 so we're not supposed to go out and buy food or clothing or pay bills
The title of this video is confusing. No up tick, no rise. She go down boy!
Raise rates to 10 percent and let the market correct itself
Sorry but if you make minimum wage you shouldn’t own an 800 thousand dollar house
What is remarkable is that there are still people that believe rates are the only way to cure inflation.
Inflation is the expansion of the money supply. Govt. overspends more than they are taking in. More money for fewer products. Like housing.
I hope rates go up not down. We don't need additional debt.
BoC rates should stay where they are until core inflation has dropped BELOW one percent, and stayed there for many months. On average, inflation has for many, many months been MUCH higher than the BoC's stated 2% target, so in order to maintain a long-term average of ~ 2%, inflation needs to be below target for many many months to correct the average.
What about oil prices and the trans mountain expansion esport of oil on the Canadian dollar?
It’s actually a good news
Economists are seldom right, especially on timing. They are like reporting the weather.
CAD going down ...close to low of 1 year ? inflation again going up
Job market is good? Its all public sector jobs. What a joke!
Jobs are not good, Self-employed has not moved in years, private sector has lost steam and the only hiring is government jobs which is a net negative to growth because we have to fund that liability from tax dollars.
Remember guys JT said he doesnt care about monetary policy, so hes just gonna spend spend spend
Sticky icky
in 4 days
Short the banks boys, when they raise rates (even in their highly biased numbers i flation is still 50% higher than what they want) people are gonna default on mortgages.
Wages have to go up or there’s going to be long term issues
They won’t go up because of insane immigration numbers.. Canadian working class is now competing with people who make 5$ a day in there home country
Middle class is like a couple making 200K in big cities lol 500K in the new 25K
This is supposed to be BNN news. And they’ve got this little turtle goof on here. What a dork, “ah?” Ever sentence, what a joke
No one has a f idea
Yesterday, economists were expecting inflation to come in at 3.0%, so the 2.9% is lower than expected.
One driver of inflation is gas price, which is volatile. Cutting out gas prices, inflation is down.
Another main driver of inflation is mortgage prices, which is a direct result of interest rate increases. Mortgage cost is up 25% year over year. Lowering interest rates will lower this component of inflation.
Stupid news. Think the increase was not bad
That is lower than expected..
This shows that Canada is headed in different direction from the US.
I was expecting 3.0 or 3.1%.
Next month will be close to 2.5%.
This all lies paid for by try tax money
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Prepare for a surge in inflation following rate cuts. The real estate market is poised for a significant uptick. According to the bull real estate guru and the Royal LePage CEO, real estate market is going up double digits this year. FOMO is back in the market. Excellent job Tiff and BOC.
As long as Trudeau is in power this isn’t gonna end
Inflation is a GLOBAL problem not a Canadian one. Has nothing to do with Trudeau, but some people will resort to that basic scapegoat because they don't understand what's actually going on.
@@bdegrdsgovt spending he's destroying Canada. And with high inflation Trudeau is scapegoating his irresponsible spending and boc printing press to allow it.
I can’t believe anyone actually thinks a different politician is going to save the country when everyone in Ottawa has been working hard to screw us for decades. Every party has the same solution every election cycle… print as much money as possible. Trudeau is crashing the bond markets, PP wants to bailout the banks and team Orange is suffocating healthcare. Those are our choices.
Really? So Conservatives come into power, they lower taxes and cut government spending, so healthcare suffers, roads suffer, schools suffer etc. How is that going to decrease gas prices and grocery prices? Answer: you don't know, just typing bullshit on the internet.
And Evil Milhouse will do better? He has no policy announcements and what he does say is complete insanity like Bitcoin or messing with the independent BoC. It's independent for a reason.
Tax me more Mr. PM , it turns me on to fight the weather with your “tax on pollution” scam.
The 2.9% inlfation number is from the inflation index. It does not include food, fuel or the absurd interest rates. If everything cost just 2.9%, let's say 3% more no one would give a hoot.
Food, gas, try 30-40% and add in mortgage rates and you have people paying $500 + a month more, let's stop the bullcrap ok. The inflation index if for the financial industry not for the average American.
None of this is for the average American... as this is Canada
Business is dead in canada
Paid offby truduea
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Leave canada run with your money