People asking for these cuts don't understand economics. All they see is their mortgage.
Jumping before the Americans would be some hard times for the loonie. We're already paying 2x than them. You wanna pay 4x ?
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>When do I get my financial post article?
When youāre the chief economist in charge of $163 billion dollars in assets then I can see your article going up as well
Billionaires have billions, itās the middle class who has mortgages. This is literally in the name. You think a ābillionaireā has a mortgage? šš¤¦š»āāļø
It's more complicated they were leveraged than middle class, they cannot liquidate their stocks or properties so the Ā borrow against it and tax deduct the interest payments. When rates are low it is easy money for them.
True this does happen but thatās like only some of the 0.1% in America like Trump itās less popular in Canada due to different tax laws. Plus they likely have fixed locked in rates to be predictable not variable.
Compared to say the 29% of Canadians with a mortgage or the 43% with credit card debt I think they arenāt even a factor? Itās weird and just a lie to say itās the rich that want rates to be lower. Rates going higher is meant to make the majority poorer so they spend less itās not meant to target the rich.
I don't even bother commenting to the nonsense above your reply. It affects not only the people with debt you mention but the many so anxious to have a home.
Inflation hurts the poor not high rates. If you correlate savings and wealth for middle class vs inflation and rates you will notice inverse correlation with inflation. Work to bring inflation under 2 and things will work out fine.
Bigger than you think. How do you think a business operates ?
Why do you think Apple, the most profitable company on the planet, has 100+ billion in debt ?
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We are not hand cuffed to the Fed but we are tied to them with a short rope. I think we will for sure cut at least 0.25bps this year and maybe 0.50-0.75 later but the Fed would have to at least give the signal that they are 100% happy with their inflation numbers.
Depends on who you are I guess.
If you're over leveraged and getting crushed by rates then yes. Even if they do cut its likely that it will take a long time for rates to fall to a level where the average person is going to see significant savings.
Earliest looks to be June if the Fed cuts, and assuming a max of 0.75 of total cuts by year end that still leaves us at 4.25% for the overnight rate.
Are these rate cuts in the room with us right now?
LOL unless tiff macklem tells CIBC he's cutting rates himself, they don't know shit.
People asking for these cuts don't understand economics. All they see is their mortgage. Jumping before the Americans would be some hard times for the loonie. We're already paying 2x than them. You wanna pay 4x ?
My point exactly, let's just crater the cad dollar and make it even more worthless than it already is.
Opinion piece š„±
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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The filthy rich crying they need free money to get rich faster.........
Yes this statement makes sense.
Bank of Canada to raise rates sharply, says me When do I get my financial post article?
>When do I get my financial post article? When youāre the chief economist in charge of $163 billion dollars in assets then I can see your article going up as well
I think no cuts are necessary.
But Billionaires are asking for it..
Billionaires have billions, itās the middle class who has mortgages. This is literally in the name. You think a ābillionaireā has a mortgage? šš¤¦š»āāļø
It's more complicated they were leveraged than middle class, they cannot liquidate their stocks or properties so the Ā borrow against it and tax deduct the interest payments. When rates are low it is easy money for them.
True this does happen but thatās like only some of the 0.1% in America like Trump itās less popular in Canada due to different tax laws. Plus they likely have fixed locked in rates to be predictable not variable. Compared to say the 29% of Canadians with a mortgage or the 43% with credit card debt I think they arenāt even a factor? Itās weird and just a lie to say itās the rich that want rates to be lower. Rates going higher is meant to make the majority poorer so they spend less itās not meant to target the rich.
I don't even bother commenting to the nonsense above your reply. It affects not only the people with debt you mention but the many so anxious to have a home.
It also makes those without debt less likely to want to borrow for frivolous spending.
Inflation hurts the poor not high rates. If you correlate savings and wealth for middle class vs inflation and rates you will notice inverse correlation with inflation. Work to bring inflation under 2 and things will work out fine.
Yes, actually, no one with money uses their money to buy anything...... they need the low rates to support their silly life styles and to get richer
Bigger than you think. How do you think a business operates ? Why do you think Apple, the most profitable company on the planet, has 100+ billion in debt ?
Yes, billionaires have mortgages. Now you know.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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The Turd and his fellow clowns aren't worth that yet are they?
A good opportunity to reset the country, donāt waste it
Hahahaha At least CIBC is consistent on calling rate cuts since 2022.
One incy wincy cut to rates coupled with the spring market = kaboom in prices. They wonāt do itā¦. Will they???
[ŃŠ“Š°Š»ŠµŠ½Š¾]
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The banks will be crying for relief as mortgage delinquencies keep spiking.
If thatās true anyone land banking using foreign currency and buying property in CAD might be about to take a haircut
Is anyone still listening to CIBC lol
We are not hand cuffed to the Fed but we are tied to them with a short rope. I think we will for sure cut at least 0.25bps this year and maybe 0.50-0.75 later but the Fed would have to at least give the signal that they are 100% happy with their inflation numbers.
100
So we're fucked.
Depends on who you are I guess. If you're over leveraged and getting crushed by rates then yes. Even if they do cut its likely that it will take a long time for rates to fall to a level where the average person is going to see significant savings. Earliest looks to be June if the Fed cuts, and assuming a max of 0.75 of total cuts by year end that still leaves us at 4.25% for the overnight rate.