Bank of Canada Interest Rate Decision just came out, 1.75% with no change, however Poloz the Clown is likely to cut after last quarter's 0.1% GDP growth and negative GDP growth in September, November, December, and likely January and February.
>The Bank of Canada today maintained its target for the overnight rate at 1 ¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1 ½ per cent.
>Recent data suggest that the slowdown in the global economy has been more pronounced and widespread than the Bank had forecast in its January Monetary Policy Report (MPR). While the sources of moderation appear to be multiple, trade tensions and uncertainty are weighing heavily on confidence and economic activity. It is difficult to disentangle these confidence effects from other adverse factors, but it is clear that global economic prospects would be buoyed by the resolution of trade conflicts.
>For Canada, the Bank was projecting a temporary slowdown in late 2018 and early 2019, mainly because of last year’s drop in oil prices. The Bank had forecast weak exports and investment in the energy sector and a decline in household spending in oil-producing provinces. However, the slowdown in the fourth quarter was sharper and more broadly based. Consumer spending and the housing market were soft, despite strong growth in employment and labour income. Both exports and business investment also fell short of expectations. After growing at a pace of 1.8 per cent in 2018, it now appears that the economy will be weaker in the first half of 2019 than the Bank projected in January.
Canada just racked up a record trade deficit as the value of oil exports plunges 21%
Not looking good. But things have to collapse before they can be rebuilt properly.
>Statistics Canada says the country’s merchandise trade deficit grew to a record $4.6 billion in December as lower crude oil prices prompted a drop in exports.
>Exports of energy products fell 21.7 per cent to $6.4 billion in December, the lowest level since July 2016. Excluding energy products, exports were essentially unchanged in December.
>Governing Council judges that the outlook continues to warrant a policy interest rate that is below its neutral range. Given the mixed picture that the data present, it will take time to gauge the persistence of below-potential growth and the implications for the inflation outlook. With increased uncertainty about the timing of future rate increases, Governing Council will be watching closely developments in household spending, oil markets, and global trade policy.
The Loonie is going to go below 70 cents and towards 65 cents by the next MPR, a drop of 10 cents.
Leafs, prepare your anuses. Your currency is about to free fall.
A plunge in oil exports is no good, Leafs are attempting to pump up the price of their FLO (Fucking Leaf Oil) by cutting production by 300K bpd, too bad last week US shale wildcatters upped production by 100K bpd in 1 week. to 12M+ bpd.
Soon we'll have FLO trading in the single digits again
Easily. Farmers and the Beef Barrons, Milk Mafia et al will use the falling loonie as an excuse to jack up prices claiming importing all that food is much more expensive now due to the weak dollar, when in fact it is all domestically produced.
i remember that. wonder who stopped them. that is a strategic attack that they tried.
Mason Ward
>All the G7 c-banks intervened and blew through Big Ma's asks
what I mean is, I wonder (which dude)who made the call to stop it.
Cameron Powell
>his main defense is 'we didnt tell her to do it but we would save 9k jobs if she does the thing we totally didnt direct her to do and thats a good thing'
I hope literally anybody with a basic ground level concept of The Law is on that panel holy shit what a dumbfuck
Aiden Nguyen
hopefully they will rip him to shreds soon.
Cooper Adams
I'm going to a Walmart later today and will report on prices.. here on a small trip and things are definitely inflated. Will report back later today lads
bless your heart kind patriot. even if this thread dies you know there'll be another so hold on to those pics.
Hudson Perry
I'm amazed at how stupid he is. And this guy has been the mastermind behind the Ontario and federal government for the last 15 years. What a stupid country.
Oliver Davis
What things should I find prices on? Meat, milk, bread? The basics?
Hunter Harris
the basics plus stuff you want to buy but cant afford to. dont hold back on snapping pics, you can choose what to post later.
alot of stuff is going to be up in price from pre-tariff precarbon tax times.
If this guy is one of the brains of an operation then it really fucking says a lot about the quality of people we let work in our government. Im a dumb fucking retard but I'd sooner cop to being guilty than go with this horrid defense. I hate it whenever the curtain gets pulled back on the people in charge of our countries its always some fuckhead with more chromosomes than IQ points.
It's very bizarre. He's saying nobody did anything wrong, including himself, yet he resigned. It makes no sense and he is exposing himself as a moron the whole time.
Aiden Sullivan
Or spring break in Canada = lots of Canadians fleeing the snow for vacation (Just like Christmas time)
How is that expensive? I just paid 1.99 for jam 1.79 for peanut butter and 2.50 for honey. It’s all generic and the name brand was double price on all of those
I don't think anyone's gonna follow suit, my guy. Loving what you're doing, naenaeing c*n*dians n all, but you should probably stop with the memes, it's cringey as fuck
