Bank of Canada cuts key interest rate by 25 basis points: panel
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- Опубликовано: 6 сен 2024
- David Wolf, portfolio manager at Fidelity Investments and former Bank of Canada advisor, Christine Tan, portfolio manager of SLGI Asset Management, and Earl Davis, head of fixed income and money markets at BMO Global Asset Management, joins BNN Bloomberg and talks about the Bank of Canada rate decision and shares their thoughts.
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I see the rising interest rate as a very big problem, as more investors will definitely pull out more money from the Stock market. This might have worked when I was still invest-ing with a couple thousand dollars, but it is more difficult now to decide whether to pull out more than $365k from my port-folio. I know some inves-tors still make that despite the strong bear market. In wish I could pull that feat
I think the whole thing about holding stocks for long term will always apply. So I think you should get a quality broker who is able to analyze and pick stocks that will do well in the long term, else you will be in a long bear ride.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.
Unofficial recession ....this .25% is a rearranging of the deck chairs on the titanic.
Bring on The Bail ins
Bail outs?
The cost of everything has increased more than most wages. This cut does nothing. It doesnt put money in pockets , most ppl are just accruing slightly less debt
Profit hungry corporations!
They should of raised the rates
@@user-uy8cf1yn3u This is a fiscal spending problem. Raising rates wont do squat for prices as long as the government keeps pumping out handouts/top ups.
Justin T is WORSE PM. Home crisis ,crime and inflation .
manythings are fake in canada LIMA for fake Jobs, Fake Refugees , Fake two bedroom colleges ,Fake Carbon tax rebate .
last 8 years changed canada under LIBERALS
@@annien1434 Ah,.. NO ! Irresponsible and reckless government spending ! You can thank Justin and his goon squad for the mess we are in.
Because the economy is tanking thanks to Trudeau !
Troll
@@danyboy1477
your a troll??
@@thh383
No, I am correct !
@@randyhuke3773 how are you correct??
@thh383
Canada's real GDP has been shrinking for years. Now it is shrinking faster. Canada has the lowest productivity in the developed world. I suggest you educate yourself and figure out how you are going to survive, unless you are rich.
This rate cut does absolutely nothing to help ordinary Canadians. I find it ridiculous that the federal government will not commit on making life affordable for Canadians beginning with scrapping the carbon tax. This tax in my opinion is creating artificial inflation because the cost of doing business that involves fuel that's taxed to the max is going to impact everybody.
Justin could not care less about Canada or Canadians. He works for the WEF, and their goal is to make Canada a 3rd world country. Same goes for Jagmeat, all bought and paid for from George Soros and gang.
High interest rates also add to the cost of business and even farmers that have huge loans.
Imagine how much rates will drop when we get that teenage girl (trudeau) out with canadas credit card.
Low Rates are going to pump inflation to the moon again.
I guess 38 billion in repo foreclosures the bankshave enough to pay the execs
Breaking news my butt 😑👎🏻 " Stop the oppression of the poor with higher taxes and higher interest rates 😠👎🏻
It's the wealthy that benefit from low rates. Their assets appreciate faster than the cost to borrow money so they just never have to sell their stocks/property as long as the banks keep loaning them money. This went on for many years now look at housing... you can win Lottario (Ontario lottery) and you STILL won't have enough money to buy the average home.
@@EvansBoy1992 I think whoever wins $70 million dollars playing that other tax on the poor name " lottery" can afford to buy whatever shit they want or need if they are smart enough to know how 😑🤷🏻♂️
@@whatdoyouwantfromme1029 Lottario is not $70M that is lottomax. Lottario is like 500k to 1M on a good week.
Panicking about the Toronto and Vancouver real estate market while overheating the rest of the Canadian economy.
What's overheating lol... Hospitality industry still under water, auto sales tanking, home building tanking, etc...
bye bye CAD
Absolutely.
Will probably be higher than USD when their wheels fall off.
Hedge against the continued inflation… not sure how long we have until things become completely untenable. Translate fiat savings into physical precious metal, store outside of banks.
@@KS-jg6bx 🤣 😂 🤣 😂
@@KS-jg6bx 🤣 😂 🤣 Height of delusion. Canada = Economy based on real estate and foreign students, mostly. Real estate is most buying and selling, and then some more selling and buying. Literally 50% of the value is paper money.
US: World's biggest economy based on industries and companies such as Apple, Nvidia, ExxonMobil, Microsoft, Tesla, Netflix, Amazon, etc. At least 4 of these are $3 trillion valuation. These companies alone generate employment higher than all of Canada (in terms of revenue per employee) and probably pay salaries more than all of Canada's top 500 companies.
🤣 😂 🤣 😂 🤣
Inflation is coming back with a vengeance embrace for the Canadian $ crashing
Worldwide
Sure. Economists have been saying that for years.
Why are you saying inflation is coming back ? I have never had the feeling the inflation is under control. It is always going up when I go grocery shopping !
@@123abcter Anybody who complains about grocery prices shows they have no cooking skills. I can prepare a really tasty and healthy meal for two for a few dollars. Doesn't mean I don't spend more on stuff, because i can afford it, but it's not really necessary. Let me give you an example: get a bag of brown rice, a handful of dried mushrooms and some chicken stock and with a bit of skill you make a wonderful risotto in 20 minutes. While grilling a couple of marinated salmon pieces. $5 per serving and nutritionally solid. OR you can complain that a bag of chips costs $5.
@@tudvalstone , it’s always good to find some optimistic people like you ! I cook my meals rarely go eating in restaurant. Price of rice and potato have gone up 70-80% in two years ! More and more people are learning to cook budget meals. I have just learned how to cook Hoover stew with wieners instead of beef. Canned vegetables. I can spend extra money for food but I choose to cook my meals. I have felt more and more people are doing the same thing. As a result I see more and more restaurants are going out of business. More people are unemployed . More people are buying food in dollar stores instead of supermarkets. I cook salmon regularly too. Also Basa fish as well. Always looking for good deals on sale items. Even trying to make my own breads. Most people are buying these no name brand foods. Somehow feeling this experience living in the 1990 Soviet era. Cooking budget meals, canning my vegetables, foraging wild berries. Actually I do go foraging wild berries sometimes. Making my apple and fruit jams. Except doing these in the West
All we need to do is devalue our currency, increase exports and immigration, and a higher carbon tax.
Election must be coming up
Huh?
@@Jimmy-yu9xy I don't hink he understand how this works
@@CodeLife_12 No he doesn’t like many of the complainers on here.
@@CodeLife_12 Rates are not coming down because of an election, the economy is plunging. Get educated.
@@MM-xg2td I think you responded to the wrong person. I'm with you on this lol
People have already taken on to much debt...particularly mortgage borrowers
Anybody who borrows right now is a sucker. Good luck making payments when you lose your job !
If you're in a good position to buy your principal residence (eg. you have the necessary downpayment) now is a great time to buy while people are still on the sidelines. Real estate market is stagnant, buyers are on the sideline waiting, so you can get a good deal without having to compete with multiple offers. Set yourself up with a short term loan eg. 2 years. In 2 years you should be able to get a much favorable rate.
be greedy when people are fearful
@@dwights1024 Exactly
Everytime I glance at the so called "sidelines" I see less people standing there
@user-vi8ci2bi6b You're either buying or renting. I was on the sideline waiting to purchase my 4th property, and i just completed the offer this week. The rich get richer, the poor get poorer.
I guess we are in a Recession. Now keep dropping the interest rate until we are in Negative Rates again and Have Bank Bail ins
100 % agreed. With Donald Trump expected to become the next USA President. He loves nothing more than a zero interest rate. Expecting interest rates continue to go down
Yeah, I think most "analysts" underestimate how low rates can go vs inflation. They gave it a good try to look tough, but it didn't work.
big mistake, should be raising instead of cutting
why
@@dwights1024 Because it's going to tank the Canadian dollar. Investors are going to pull their $$ out of Canada. Imports are going to skyrocket as well as gas. Watch food prices this coming winter up and up as well as many other goods.
I agree 100%
Debt junkies
And when this will drill down to the ppl so we can see this on mortgage s and other interest rates??
exactly
25 basis points, really? I told you all this Tiff fellow is incompetent and needs to be replaced. The whole economy is edging towards a precipice and he keeps extending threads incrementally to stop it. The first rate cut in 2024 was supposed to be 50 basis points but he went smaller. Consumers sat on the fence and unemployment ran away. He got nervous and this time you would think 50 basis points to make up for his earlier inadequacy but no! He doubled down with another quartet. Still nothing will change because nobody can afford vacations anymore and are cutting back. People sold off their cottages to avoid the additional tax on a second property. They got no where far to go. Demand for gasoline has been low and now rapidly winding down owing to a cooler summer than usual. The market is oversaturated with listings nobody is buying. All the housing supplies being built for the past two years are now becoming available pushing prices down rapidly. Rents are high. Mortgages are very high. Bankruptcies are on the rise. Companies are folding from low sales and low demand for products and are laying off in droves. This Tiff fella is clueless up there in the ivory tower. I'm not an economist or trained in mathematics just a guy from the street and even I would have done a better job at BoC that Tiff. It's funny how people praise the so-called "professionals" who don't know what they are doing but pretend they. A street guy like me wouldn't even get a job at BoC; they'd look down on my pedigree. And yet, I know precisely how many basis points is needed each time to get this ship to port. Funny indeed.
Cut rate further or we get massive unemployment in the construction industry. Thousands of projects have already been cancelled or delayed because of high interest rates.
I saw whole turkey on sale at my local grocery store. $1/lb 😃👏
Cut means nothing, still expensive to borrow. Doesn't make it any easier.
Soon as I heard cohort. Game over
10% Q4 2025.
Too late, too little, very low impact on struggling home owners
Mortgages are at a 25 year low
let the inflation go up again!
I really don't understand Canadian. Why they always blame immigrant. why they not thinking that immigrant also bring value and benefit to Canada as well. I heard that the reporter keep asking that the inflation is it because of immigration. I would says that this make Canadian hate immigrant more that doesn't help at all. I used to feel like Canada is a welcome country but now i feel like Canadian hate immigrant. I would like Canadian to have an open-minded and not assume that all immigrant are bad. We are human too.
This is my feeling while i living in Canada. I believe that i should have right to express all my thought and feeling in Canada right?
Canadians like the regular immigration stream of 500,000 permanent residents per year.
Canadians DO NOT LIKE the 1,000,000 international students, of which most are trying to sneak in a backdoor. We are prepared for the number that come in the regular way, but anymore puts strains on housing and infrastructure and makes it more expensive for ALL Canadians to live here.
Does that answer your question?
Its not a big change useless, not going to any change
Yep, this will lower the value of CAD. This cut is inflationary...housing, rental, food, energy, services, goods....all going up. Unions getting raises with each strike. Wait until Air Canada pilots get a 100% raise soon. Stagflation is here baby. Can anyone afford to take a family to Mcdonald's for a substantial meal anymore??....say no more.
Ya unions are the problem ....tryi f to get a living wage....how dare they...
@@Iliinois18 Commie
@@24theMoney hahaha ok boomer....
@@Iliinois18 Have you taken a look at your subscriptions 🤡🤣
@@24theMoney creeper...
First they overtightened by at least .50, now they undercut. They need to move in September by .50 or they are fucked.
Greedy businesses…
No, Irresponsible government. Please get your facts straight before posting.