As expected, the Bank of Canada cut another 50 basis points from their benchmark rate today.
This is 5 cuts in a row now. Benchmark rate now 3.25%.
They are claiming victory over inflation as the reasoning but we all know the economy is Weak!
pull down to refresh
100 sats \ 3 replies \ @Coinsreporter 11 Dec
Did you notice that just reported this expectation from BoC in TDZ?
I'm glad TDZ is doing some real reporting.
reply
20 sats \ 2 replies \ @grayruby OP 11 Dec
Yes, I did notice but I wanted to do a post because I posted about this a few days ago saying it was likely to occur today. So was more a follow up to that. Wasn't trying to steal the Daily Zaps thunder.
reply
60 sats \ 1 reply \ @Coinsreporter 11 Dec
No I didn't mean you were trying to steal TDZ. I'm just happy that the report turned out to be true.
Also, I think it's I who overlapped your previous post.
It's like the feeling of satisfaction as a journalist.
Sorry, I didn't mean that way.
Talking about this cut is definitely showing how fragile the economy is right now there. I'm sure you guys will overcome it very soon after the elections.
reply
0 sats \ 0 replies \ @grayruby OP 11 Dec
It will be interesting to see what rates are at once elections roll around in 10 months.
reply
40 sats \ 7 replies \ @Satosora 11 Dec
They will always try to cloud the real picture.
Just how government is.
reply
20 sats \ 6 replies \ @grayruby OP 11 Dec
Of course. Telling the truth is bad for business when it comes to politics and government.
reply
40 sats \ 5 replies \ @Satosora 11 Dec
Yes, but it is becoming so big that they cant hide it anymore.
Maybe they will start giving out covid checks again?
reply
20 sats \ 4 replies \ @grayruby OP 11 Dec
Canada is giving $250 to every working individual who earns under 150k this spring. I forget what the program is called.
reply
40 sats \ 2 replies \ @nichro 11 Dec
they cancelled this I believe. NDP wanted it to include a lot more and Libs just scrapped it so they could at least get the temporary GST tax break passed, which NDP also whined that it should be forever
I know. NDP and Libs fighting over tax breaks. It's hilarious.
They could just cut sales, income and property taxes across the board instead of setting up these complicated bureaucratic programs
Our politicians love over engineered solutions. Makes them think they're smart and doing smart science, like the breaking bad meme
reply
0 sats \ 1 reply \ @grayruby OP 11 Dec
Haha did they? I knew they were arguing about it but I didn't know it got cancelled.
reply
40 sats \ 0 replies \ @Satosora 11 Dec
They dont want to follow in the US footsteps.
reply
0 sats \ 0 replies \ @Satosora 11 Dec
Oh, it is already happening?
Soon their currency will inflate like the usd.
reply
0 sats \ 0 replies \ @Fiat_Revelation 11 Dec
Never mind the credit expansion and continued devaluing of the CAD - let's fixate instead of Trump's tariffs and the 51st state comment
reply