OTTAWA — OTTAWA - The Bank of Canada raised its policy interest rate by 25 basis points to 2.5 per cent. It’s the first hike since July 2023. The central bank wants to control inflation by reducing the risk that high fuel prices could spill over and seep into the overall economy.
We’re fucked. WE’RE FUCKED!
Almost any European, Asian, African or South American country, this would fuel a surge in left wing interest, left wing ideology, revolutionary thinking.
Here in the United States of Canada, we think that blowing billions on foreign military contracts, foreign owned pollution pipelines and taxpayer subsidized foreign owned data centers, untouchable property acquisition corps are great!
Keep cranking up the inflation, spending and interest rates!
Elbow’s up!!!
ElbowsAnkles up!!!FTFY
Our left wing fucking suck.
This Avi guy might turn things around. Who knows.
Left-wing isn’t getting votes just because they claim to be left wing.
This Avi guy might turn things around. Who knows.
They guy who hasn’t been elected yet?
Yea, him.
It’s a “maybe”, not a confident claim.
I’d be an NDP partisan fanboy if I believed he’s our messiah.
I mean… the ECB already raised at least once this year (September), and it’s looking like there could be a second in December. Where’s the revolution?
So are rate hikes good or bad? I need someone to make sense of this! Where’s Jarule?
All the spending growth in the economy is coming from the whales, the top 20%, of earners.
You can charge 2k for an iPhone and they pay it without blinking an eye.
If taxes were raised on the top 20% of earners it would slow their spending and tame inflation.
The chance of this happening is close to 0% so expect more interest rate hikes as it will be the Poor’s who are made to pay.
Raising the Poor’s taxes would do little as they are all buying necessities only at this point. And many are making hard choices about which necessities to go without.
In other words, this is the inevitable outcome of decades of “taxes are bad” religion in politics.
Fuck you, Most Feminist Prime Minister™ in Canadian history.
Fuck your Katy Perry and biological children with a diseased flange from a septic tank.
Trudeau kept the inflation under control very well compared to what almost every other country saw in the same time period.
I liked his election reforms.
What does the PM and former PM (and his gf and kids) have anything to do with the independent Bank of Canada?
They do have levers. Several in fact, while the BOC simply monitors one number and responds with the other.
For just one option, the largest effect on monetary supply is taxes, not interest rates.
They threw mine into the grinder without any thought.
I’m returning the favour
They threw your gf and kids into a grinder? Geeze, sounds like you should be filing a police report, not posting on an obscure social media platform
Ok.
Wut?
🐔 butt
uh…The Bank of Canada sets interest rates, not the PM.
The Prime Minster of Canada is Mark Carney, since 2025. Update your flags.
I’m well aware.
I believe in the freedom and our right to burn flags.
I’m not with the flag shaggers.
Maybe read your comments before posting.
I don’t know how to read or write english.