Canada @lemmy.ca sik0fewl @kbin.social 1 yr. ago

Goldman says Canada to skip now, add final rate hike in October

www.bnnbloomberg.ca Goldman says Canada to skip now, add final rate hike in October - BNN Bloomberg

The Bank of Canada will make its final rate increase in October after a pause next week, says Goldman Sachs Group Inc.

21 comments

Why is Goldman Sachs announcing this instead of Tiff Macklem??

Jayzuz.
- For all the Americans that own investment property in Canada 🙃
There's been an awful lot of final rate hikes
- The Final Last Rate hike - Goodbye Forever Final Live Tour, "We're really retiring after this one" ultimate final tour
Why the fuck another hike? The country's economy had a net regression for the first time in years. Houses, food and rents prices are unhinged. Another hike won't do anything to help this.
- Houses, food and rents prices are unhinged.
  
  Higher interest rates lower inflation. That is why the BOC has been rising them
  
  The country’s economy had a net regression for the first time in years
  
  The main goal of central banks is keeping inflation around 2% per year, even if that causes a recession.
  
  Higher interest rates lower inflation. That is why the BOC has been rising them
  
  Unless it is specifically interest payments that are causing inflation to rise...
  
  Interest rates don't unilaterally fix inflation though, which the BoC is either too stupid to admit or too reckless to care.
  
  Raising interest rates won't fix inflation driven by gas prices.
  
  Up to 3% inflation is in the acceptable band. They don't try to balance at exactly 2%, especially in unstable inflation environments.
  
  But otherwise, yes. I liked your comments in the other thread you linked below, too. Very clearly explained.
  
  Well, it ain't working. I don't know about you but my bank uses this variable to determine interest rates on my mortgage
"Final". Uh huh.

You've viewed 21 comments.