Was The Bank of Canada Reckless When It Said Rates Would Be Low Until 2023? | Canadian Real Estate
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- Опубликовано: 5 окт 2024
- In October 2020, the Bank of Canada's newly minted governor Tiff Macklem assured households that rates will be low until 2023.
Now households are facing interest costs based on a policy rate 15x what they were expecting.
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Honestly, why there isn't a law suite against the Bank of Canada (as well as other central banks) is beyond me. They control the interest rates they should be held accountable for making such claims and then going back on it.
Totally agree... my wife and I are being destroyed financially because we followed his instructions. We will be losing our house soon, and nothing we can do about it other than rent and try to save up another deposit.
We are mid class, and earn 160k a year combined income, and cannot afford our home that we were approved for by the banks not even a year and a half ago.
@@BriCam1 So sorry!
@@BriCam1 Why'd you buy a house and not a townhouse?
Tiff has made several blunders during his period at the head of the BOC. I actually think he may be the worst of our central bankers in decades.
Always trust the experts. They know everything. This is a good lesson for us.
He "forward ⏩ guided" a ton of people into financial ruin.
Lol. This aged well.
TIff "No accountability" Macklem
Thé fact that peoples would believe that after 30 years of low interest rates they would stay like is beyond incomprehensible as well. It was a final bear trap.
LIAR
No one believe Powell either. One thing is for certain they'll lie about the real inflation rate saying its one-half of the true rate so they can fleece seniors on social security each year with the cost of living increase being half the inflation rate. It also allows them to pay down debt and long term debt with interest rates so much lower than the true inflaiton rate.
Tiff was right, at 3.75% the rates are still super low in 2022. Just wait for 2023. Joke aside, he said: "Sustainably achieve our 2% inflation target. And that's not going to happen into sometime in 2023". It can be interpreted that he said, that the 2% inflation target will be reached in 2023.
Aged like fine milk