Bank of Canada on standby to raise rates further, summary reveals hawkish tone to deliberations

[CdnFox]

https://toronto.citynews.ca/2023/11/08/bank-of-canada-interest-rate-hikes-discussions/

 

For those of you who are not done yet with interest rate hikes...

Sounds like they are going to go up again. This doesn't really impact me too much because my mortgage is so small, but for so many younger people just barely hanging on this is going to be devastating. I know that people think that the bank is independent of the government, but it's really not. And sometimes it feels like the government is trying to poison the well so that there are horrible financial problems when the next government takes over to keep them from looking too good.

Unstable interest rates affect developers and developments. We're already not building enough homes and now it's going to get worse yet again.

Sigh! Two more years.

[Nationalist]

8 hours ago, CdnFox said:

https://toronto.citynews.ca/2023/11/08/bank-of-canada-interest-rate-hikes-discussions/

 

For those of you who are not done yet with interest rate hikes...

Sounds like they are going to go up again. This doesn't really impact me too much because my mortgage is so small, but for so many younger people just barely hanging on this is going to be devastating. I know that people think that the bank is independent of the government, but it's really not. And sometimes it feels like the government is trying to poison the well so that there are horrible financial problems when the next government takes over to keep them from looking too good.

Unstable interest rates affect developers and developments. We're already not building enough homes and now it's going to get worse yet again.

Sigh! Two more years.

Cause huge inflation with the banks...then squash the public with the banks.

Makes one wonder just who Pixie-Dust thinks he's working for?

[ExFlyer]

Poor prognostication. And...interest rates remained the same.

[Moonbox]

9 hours ago, CdnFox said:

...sometimes it feels like the government is trying to poison the well so that there are horrible financial problems when the next government takes over to keep them from looking too good.

That's a 10-IQ take if I ever saw one.  ?

 

[CdnFox]

3 hours ago, Moonbox said:

That's a 10-IQ take if I ever saw one.  ?

 

ROFLMAO - ohhh look, Moonbox is back, following me around like a puppy and contributing nothing

Still smarting over the last time i made you look like a loser? Still bitter? Spent a few days sulking over it and after all that this is the best you could do?  Well - that's the left for you

[CdnFox]

3 hours ago, ExFlyer said:

Poor prognostication. And...interest rates remained the same.

That's kind of a dumb thing to say. The guy in charge of interest rates says we're still thinking about raising interest rates and you pretend like it's some sort of guesswork on his part?  I'm pretty sure if he says he's thinking about raising the rates no crystal balls were involved.

And what do you mean 'interest rates didn't go up'?  The next decision isn't until december.

 

[ExFlyer]

23 minutes ago, CdnFox said:

That's kind of a dumb thing to say. The guy in charge of interest rates says we're still thinking about raising interest rates and you pretend like it's some sort of guesswork on his part?  I'm pretty sure if he says he's thinking about raising the rates no crystal balls were involved.

And what do you mean 'interest rates didn't go up'?  The next decision isn't until december.

 

Key is...he did not.

Wait till December then to make your next prognostication....

[CdnFox]

1 hour ago, ExFlyer said:

Key is...he did not.

 

Key is - WE DON"T KNOW THAT, THEY DON'T MAKE A DECISION TILL DECEMBER!

So... how do you know he didn't if they haven't reached a decision?

You are in scary stupid mode these days

1 hour ago, ExFlyer said:

Wait till December then to make your next prognostication

No, after december they will have made a decision on the next rate hike.  You don't seem to understand how time works. You think he didn't do something before it happens and you think we can guess what he will do after it happens.  ANd on top of it all nobody's said what he will or won't do, just that he's considering it.

Did your drugs expire or something?

[ExFlyer]

2 minutes ago, CdnFox said:

Key is - WE DON"T KNOW THAT, THEY DON'T MAKE A DECISION TILL DECEMBER!

So... how do you know he didn't if they haven't reached a decision?

You are in scary stupid mode these days

No, after december they will have made a decision on the next rate hike.  You don't seem to understand how time works. You think he didn't do something before it happens and you think we can guess what he will do after it happens.  ANd on top of it all nobody's said what he will or won't do, just that he's considering it.

Did your drugs expire or something?

Your crystal ball says so? LOL

I don't make Bank of Canada predictions which you seem to be able to,... so, the stupid is certainly not me. So, There is no need to keep repeating yourself, I ignored you the first time

 

[Moonbox]

4 hours ago, CdnFox said:

Still smarting over the last time i made you look like a loser? Still bitter? Spent a few days sulking over it and after all that this is the best you could do?  

When you're tossing up beauty quotes like these, nobody's best is required.  The only person you're making look like a loser is yourself.  The idea that anyone gives an angry buffoon like you a moment's thought in their day-to-day is sad comedy, but I guess when your day-to-day is nothing but battling it out on internet forums, that might not seem so insane. 

You've actually suggested the current BoC governor and federal government may be purposely screwing things up and making themselves look bad, so that the next guys look...also bad...or something.  Too funny.   ?

 

 

Edited November 9, 2023 by Moonbox

[CdnFox]

14 minutes ago, Moonbox said:

When you're tossing up beauty quotes like these, nobody's best is required.

 

So you're saying you're a nobody?

well that's accurate enough i suppose. I mean, you can't even figure out what 100% minus 50% equals.

[CdnFox]

1 hour ago, ExFlyer said:

Your crystal ball says so? LOL

The governor of the bank of canada says so.   

And in fact they publish the dates when they're going to make a decison.

https://www.bankofcanada.ca/2022/07/2023-schedule-interest-rate-announcements/

ROFLMAO - see? You're in TOTAL stupid mode right now.  Every now and then it's like you lose the ability to think for a week or so.

Quote

I don't make Bank of Canada predictions which you seem to be able to,..

Yes, i have the magic power to predict when their next announcement is going to be by reading their schedule   It's my superpower

Quote

. so, the stupid is certainly not me.

It's absolutely you    And everyone's having a good laugh at your expense  

Quote

 I ignored you the first time

me, logic, reason, the calendar, the BoC's actual head person, reality... yeap, there's a lot of things you've got on ignore right now  

[Moonbox]

25 minutes ago, CdnFox said:

And in fact they publish the dates when they're going to make a decison.

https://www.bankofcanada.ca/2022/07/2023-schedule-interest-rate-announcements/

He's not contesting the rate decision date, dumb-dumb.  He's arguing that your prediction of rate hikes aren't based on actual knowledge or understanding.  As usual, you're arguing with yourself.  

Edited November 9, 2023 by Moonbox

[ExFlyer]

45 minutes ago, CdnFox said:

The governor of the bank of canada says so.   

And in fact they publish the dates when they're going to make a decison.

https://www.bankofcanada.ca/2022/07/2023-schedule-interest-rate-announcements/

ROFLMAO - see? You're in TOTAL stupid mode right now.  Every now and then it's like you lose the ability to think for a week or so.

Yes, i have the magic power to predict when their next announcement is going to be by reading their schedule   It's my superpower

It's absolutely you    And everyone's having a good laugh at your expense  

me, logic, reason, the calendar, the BoC's actual head person, reality... yeap, there's a lot of things you've got on ignore right now  

You were so good for so long and BAM, your old persona leaked out.

Such a shame.

[CdnFox]

2 hours ago, Moonbox said:

He's not contesting the rate decision date, dumb-dumb.  He's arguing that your prediction of rate hikes aren't based on actual knowledge or understanding.  As usual, you're arguing with yourself.  

I never predicted any rate hikes.  Post where i predicted a rate hike?

Sigh. Once again you have to lie to try to make a point.

[CdnFox]

2 hours ago, ExFlyer said:

You were so good for so long and BAM, your old persona leaked out.

 

Right - the one that posts facts and cites.

Your brain farts and stupidity in the face of facts you don't like has nothing to do with my 'persona' or anything other than your own brain damage.  Next time maybe don't double down on the stupid.

The BoC has said that rate hikes are still on the table and they will make a decision. That is not predicting the future, that  requires no special knowledge on my part, you just screwed up is all.  Don't blame it on me.

[Moonbox]

38 minutes ago, CdnFox said:

I never predicted any rate hikes.  Post where i predicted a rate hike?

Right here, muppet:

20 hours ago, CdnFox said:

For those of you who are not done yet with interest rate hikes...

Sounds like they are going to go up again.

You can't even go a handful of posts without screwing yourself up.  Bravo, once again.  ?

[BeaverFever]

Bank of Canada is an arm’s length institution. Justin Trudeau and the Liberals do not control interest rates and are not the ones deciding to raise them  

Interestingly, it is PP who said he would for the head of BOC and end the bank’s independence which is essential for a modern advanced economy. To be fair I think PP was just making an empty threat to get votes. Like Chretien’s promise to cancel the GST it ain’t never gonna happen in the real world even if it was a sincere promise 

Edited November 10, 2023 by BeaverFever

[Moonbox]

14 minutes ago, BeaverFever said:

Interestingly, it is PP who said he would for the head of BOC and end the bank’s independence which is essential for a modern advanced economy. To be fair I think PP was just making an empty threat to get votes. Like Chretien’s promise to cancel the GST it ain’t never gonna happen in the real world even if it was a sincere promise 

I agree.  These are just the noises the dumb apes were making to each other, and that's what PP repeated back to them.  

[CdnFox]

46 minutes ago, Moonbox said:

Right here, muppet:

 

ROFLMAO - i didn't predict ANYTHING - i said it sounds like they're going to go up based on what the guy who's incharge of raising them said      I never said "I" was claiming that - the BoC guy sounds like they intend to raise them

LOLOLOL - every single time we talk you get busted for lying Pretending that I made a prediction because i noted that someone who's in charge of raising rates is strongly suggesting they'l go up again ....   LOL

Do you never get tired of looking pathetic?

Again - post were -I- predicted anything.  Can't?  well  there you go    Nice to see you again kiddo, always fun to laugh at you again  

(oh --- was that too many words for you? i know you get dizzy and complain if its more than a few sentances!)  ROFLMAO!!!!! 

[CdnFox]

18 minutes ago, BeaverFever said:

Bank of Canada is an arm’s length institution. Justin Trudeau and the Liberals do not control interest rates and are not the ones deciding to raise them  

 

That's not really true.

THe BoC is supposed to be arms length, just as the fed is supposed to be in the states.

But in both countries the gov't exerts a great deal of influence.  The bank and the gov't meet constantly and discuss what's going to happen.  The gov't doesn't control the bank but it does put a LOT of pressure on the bank and exerts it's influence over the bank.
 

So you can't claim the bank is truly independent or that the gov't has no influence over the BoC.

20 minutes ago, BeaverFever said:

nterestingly, it is PP who said he would for the head of BOC and end the bank’s independence

Firing the guy at the top wouldn't end the bank's independence any more than firing the head of the CBC or the Mounties would make those orgs 'non-independent'.  The BoC is not a private intsitution. While it's seperate from the gov't it's still a public institution.  ANd if the guy in charge is incompetent then getting rid of him is still in teh public's interest.

[BeaverFever]

13 hours ago, CdnFox said:

That's not really true.

THe BoC is supposed to be arms length, just as the fed is supposed to be in the states.

But in both countries the gov't exerts a great deal of influence.  The bank and the gov't meet constantly and discuss what's going to happen.  The gov't doesn't control the bank but it does put a LOT of pressure on the bank and exerts it's influence over the bank.
 

So you can't claim the bank is truly independent or that the gov't has no influence over the BoC.

The BOC is arms length. Arms length doesn’t mean estranged. Of course there is frequent open two-way communication between the BOC and Department of Finance but your suggestion this somehow means Trudeau’s government could simply pick up the phone order baseless rate hikes simply to “poison the well so that there are horrible financial problems when the next government takes over” is ridiculous. The government has little ability to really pressure the BOC. Sure in the event there’s a difference of opinion each can continue to argue their own views but there is nothing government can do to the Bank yo get its way. If anything it’s the other way around. The Bank doesn’t fear “government pressure”.  And people with ultra-prestigious positions like Governor of BOC aren’t afraid of being fired or dismissed for sticking to their principles, it’s not like they end up on Employment Insurance or something in fact they go on to even more prestigious and lucrative positions in the private sector. .If anything that would be a badge of honour. 

[CdnFox]

Just now, BeaverFever said:

The BOC is arms length.

Nope, not really  Sorry.  Arms length literally means that they're distant and have parity with but the reality is they don't.  They do on paper, but everyone is quite aware that's not the case and never has been for many many decades.

7 minutes ago, BeaverFever said:

your suggestion this somehow means Trudeau’s government could simply pick up the phone order baseless rate hikes simply to “poison the well so that there are horrible financial problems when the next government takes over” is ridiculous

Yeah - i never actually said that at all. Not even a little.

What have said many times is that the banks have acknowledged that trudau's spending is forcing the BoC to raise rates, as well as driving inflation. 

And the article acknowledges that this spending and other factors in trudeau's control are driving this.  The bank and the gov't are not seperate, what one does affects the other.

And it's as if he wants to do even more of that to leave a 'poison pill' for the Conservatives rather than do what everyone is BEGGING him to do, which is to cut spending.

But I never even suggested justin could pick up the phone and tell the bank what to set interest rates at.  And as usual - you have to lie to try to make your point and pretend i said something i never did.  Sigh

If the bank was truly independent they would be screaming bloody blue murder about it right now. But - they are NOT entirely independent and so they mumble and murmur - "his spending isn't helping" they say, rather than "For Effs sake you're going to drive people into bankruptcy - stop spending!!!!"

 

So. Ya done lying and trying to cover for the libs? Or are you ready to deal with facts and what people actually said now? Trudeau has a huge direct influence over interest rates, they could drop tomorrow along wiht inflation - and both would vanish if he cut spending by 3 percent according to scotiabank.

 

[Army Guy]

18 hours ago, BeaverFever said:

Bank of Canada is an arm’s length institution. Justin Trudeau and the Liberals do not control interest rates and are not the ones deciding to raise them  

Interestingly, it is PP who said he would for the head of BOC and end the bank’s independence which is essential for a modern advanced economy. To be fair I think PP was just making an empty threat to get votes. Like Chretien’s promise to cancel the GST it ain’t never gonna happen in the real world even if it was a sincere promise 

Liberals have broken rules and regulations before, what makes you so sure that the PM could not influence office that are suppose to be outside his preview, l mean like the BOC, GG, or justice department...And what punishment would there be for such influence. Becasue we have not really seen any sort of punishment for when parties color outside the lines...

Edited November 10, 2023 by Army Guy

[CdnFox]

Just now, Army Guy said:

Liberals have broken rules and regulations before, what makes you so sure that the PM could not influence office that are suppose to be outside his preview,

There's really no guess work to be had - this just plain out and out happens.  And not just under liberal gov'ts but definitely under liberal gov'ts. that's why chretien had a fit when they didn't do exactly what they were told to - then they did

But in this case it's more that they're covering for justin's actions.  His overspending drives up inflation and they have to raise rates even more than they want to in order to compensate, but they dont' call him out on it. The regular banks do and they admit it in THIS report but they're not doing their job and sounding the alarm.

But of course the lefties don't think justin's responsible for any inflation in the first place. No no - the banks are all wrong, economists are wrong, everyone KNOWS that dumping tonnes of gov't money into the economy REDUCES inflation, honest!!!

1diots.  Any way trudeau will keep over spending and keep inflation high and keep interest rates high and go into a recession and then dump it on the Conservatves so 4 years later the liberals can say "Oh look how tough things were under the CPC"