Bank of Canada considering Rate Cuts by June! Will they act in time?

Welcome back to another episode of Finance Fridays! This week we dive into the most recent Bank of Canada rate announcement on April 10th. The Bank of Canada held its policy rate steady at 5%, but has now opened up the door for possible rate cuts in the future, maybe as soon as June. With the realm of a possibility of a cut looming, what does this mean for the Canadian real estate landscape and mortgages as we look to the US with hotter than expected inflation data and other economic indicators.
Overall, in Canada, the economic data is very grim and is pointing to the possibility of a rate cut that needs to happen soon. Otherwise, we risk the possibility of sending the Canadian economy into a tailspin or, worse, a deep recession. The Bank of Canada has now changed its tune when it comes to the discussion around rate cuts, and this is a pivotal move for the Bank of Canada and one that is welcomed by many Canadians, especially those with fixed-rate mortgages.
Once again, welcome back, and thank you for watching! Please subscribe, like, and share the video, and leave your comments and questions in the comment section below.
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[@renatovenuto296]

Great job Anthony 👌

[@intouchmortgages]

Thank you!

[@ashmaddy04]

This is great insights, I love the these updates. Very well structured Anthony! I am leaning on 0.25% cut in Jun, given we are close to target inflation.

[@intouchmortgages]

Thank you for the support: I do think we still have a good chance of seeing some well expected cuts in 2024.

[@brianponcelet3529]

I am not sure how you have a rate cut when oil is marching back up towards $100 a barrel. Top off a weaker Canadian dollar. We buy goods (food) from the US. My guess maybe end of year. Inflation is going nowhere.

[@intouchmortgages]

The Canadian economy is facing challenges, and the Bank of Canada must make a crucial decision: to adapt or risk stagnation. The Governor of the Bank of Canada emphasized the importance of data analysis. Despite significant trade ties with the USA, Canada maintains its own currency and monetary policy. It remains to be seen if devaluing our currency is the solution.

[@ICEEIC]

If BoC cuts in June, bidding wars will come back and worsen supply crisis. Carbon tax was already jacked up. Do we need more problems? Inflationary spending will continue for the rest of this year. If BoC wants to cut rates, they to wait and/or stop or reduce Inflationary spending. But it ain't gonna happen because of the Tribal Chief of Inflation, Justin.

[@intouchmortgages]

With this new budget, we'll closely monitor inflation. Interestingly, the Bank of Canada warned the Liberals about excessive spending in their fight against inflation - perhaps prioritizing votes over the economy.