Bank of Canada will keep rates at about 3%: CIBC's Tal
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- čas přidán 26. 06. 2024
- Benjamin Tal, deputy chief economist at CIBC Capital Markets, talks with Financial Post's Larysa Harapyn about where the interest rate might end up when the Bank of Canada makes cuts next year.
I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the Canadian dollar or is this a good time to buy gold?
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"I want rates to be 3% due to my employer being heavily exposed to domestic mortgages"
Cutting rates just reduces pain today and increases more later. Housing prices need to come down to align with wages period and not at historic lows for interest but at historic norms. Someone is gonna have to lose money.
This man’s bank owes not just truckers but all Canadians an apology.
Housing prices will stay high as long as people are able to rent them for profit.
What happened to that young girl who did a speech on Canada's finance system? Well worth a watch
As we hear on the news on the geopolitical fronts, the ongoing Gaza - Israel and the Red Sea crises will potentially push the inflation numbers and rates higher.
Oil and energy prices on the global markets are on the rise again and so as at the pumps.
Brace for Higher gas, food, rent, and services in the coming months!
With the ongoing geopolitical crises in Europe and West Asia/Africa and new tensions brewing at the border of Russia and Finland in recent days, the global economic outlook is bleak for years to come.
The interest rates will continue to rise and stay elevated throughout 2024, 2025, 2026, and possibly beyond.
Inflation is on the rise again as global geopolitical tensions are brewing.
House prices are still ridiculously high. There is zero pain...yet.
Markets are down in many places now almost 20%, but suspect still room to drop.. lots of room.
@@arethereanyuniquehandles Nop I think next year we gonna see people rush into the market again and push price higher.
@@whosurdaddy1975 Put your money where your mouth is and by all means jump into the market ahead of them and get rich. Not a bet I would take.
This is not a correct statement.
I work in the food industry and it is around 20% yearly increase since covid ended on anything you want to eat. You can still buy cheap pork chops or canned vegetables but good luck on the good stuff. Beef just went up 3% this week across most line items and has gone up every month or so.
If they drop rates soon, it's an admission that they overhiked in the first place. I am hoping that they decide the neutral rate (neither stimulus nor constraining) is between 3 and 3 1/2 percent. I think this is long term more healthy, rather than having rates near zero when the economy is already well stimulated.
The minimum wage will need to be hiked to $25 an hour as rents rise exponentially due to increasing home prices and mass emigration to Canada.
Should there be a database that details where everyone is coming from so that anyone can leave or EMIGRATE from anywhere immediately without a screening being needed?
3% wow what a surprise
No I don't think they will keep the rate at 3%, first Canada will have to follow the rate of US and US has debt problem if US don't drop rate back to 0% or negative they can't pay the interests on that debt.
Argentina cut the rate in high inflation time their currency collapsed
Bingo.. alot of morons don’t realize those consequences. Our dollar is worthless if they drop rates before the Federal Reserve.
When it comes to describing Macklem's behavior bullhead better describes his action more so than hawkish or dovish.
Tal has been wrong many times.
Unfortunately, no one has a crystal ball. All the experts being interviewed basically sharing their opinion, I don’t read too much into it.
I agree, I understand no one has the crystal ball, but its to count on this perspective. He's not wrong though.
They drop rates and US Federal Reserve doesn’t our dollar drops like a rock. Inflation will spike even higher as a result. They will cut rates when our economy (which is borderline recession) crashes and by then it will be too late. Don’t count on any rate cuts soon.
Tandia credit union dropped their 18month GIC from 5.75% to 5.50%
Sad news for retirees who depend on fixed income to live on. If interest rates keep falling retirees will have to come back to work due to no real rate of return on their money.
@@parkerbohnn this is not true at all. Where have you been the last 15 years? Retirees were not coming back to work in the lowest interest rates in our history, were they?
@@JayandSarah The baby boomer generation started to retire at age 62 in 2008, None of them had retired by 2008. The first boomers were born in 1946.
@@parkerbohnn it doesn't matter... people have been retiring all this time and not being forced back to work.
We are retired at early 50's and not likely forced back to work with whatever happens to fixed income rates.
Tal has had a lot of coffee. He's speed talking like an addict.
Cocaine is the drug of choice on Wall and Bay Street.
The US gasoline prices food prices home prices are cheaper than Canada
So WTF is it 3 or 5 🙄
Problem never will fix because Gov increase the population.
Food and gasoline and home prices rent so expensive you talking about rate cut
Those guy had lost credibility, why interview him when he already has a bias. Keeping interest rates has got us here to start with.
Rates will be at 3% in 2025.
If the Bank of Canada cuts their rate to 3 percent rents will go into the stratosphere as home prices skyrocket once again. This will result in very few immigrants coming to Canada due to wages being far too low to pay the rent.
This is incorrect. House prices have hit their peak. Unless rates return to near zero, they will never hit those values again unless wages rise significantly, which is essentially a devaluing mechanism.
Ben is at his best ! Number one snake oil salesman on CZcams !!!
2 more rate hikes coming.
I really doubt it, the housing market is already bursting, and big refinancing of mortgages over the next two years. Next move likely down, but maybe several months out.
@@arethereanyuniquehandles Canada's interest rates are more or less tied to American interest rates to protect against a falling Canadian dollar. In the past interest rates in Canada were always quite a bit higher than American interest rates for about 200 years straight running until Stephen Poloz came into power.
@@parkerbohnn They are tied mostly since the economies are very correlated. And other countries aren't that different either. But you are right, if the US decides to go back to near zero, Canada will have to follow. Hopefully Central Banks in general adopt a more moderate neutral rate.
not possible. US has added 300billion interests payment on the high yield bond they issued last 2 years which made the total interests on their debt nearly 1Tillion per year. if the interests rate keep higher this way they wouldn't be able to pay that interests and their bond market will collapse. Inflation is no an issue compare to the US bonds.
@@whosurdaddy1975 FED dual mandate is inflation and jobs, not protecting the government's fiscal health, although have to say they aren't totally unrelated. If the US government keeps spending like drunken sailors, and GDP (jobs) and inflation remains, they may have little choice but raise rates. I don't think that will happen, but US is trying to fund the world wars, and that isn't good for inflation.
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No it wont go below 4 percent. We already saw what low rates do. Thats not even a thought at 3 percent. Get real.
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Rates need to be 8% to prevent a financial breakdown crisis, anything less will result in complete dollar collapse. This character appears to be either some kind of AI generated avatar or high on meth, possibly both.
You have always wrong
The puppet talks....rear view mirror analysis
Get some one who can speak clearly for god sake.
Why does he have permanent peoples eyebrow lol