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Originally Posted by Fuzz
That's a pretty serious allegation. You have evidence for that?
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really? The BoC basically hid under a rock on their September update.
https://www.bloomberg.com/news/artic...decision-guide
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Wednesday’s statement-only decision comes amid the final two weeks of an election battle between Prime Minister Justin Trudeau and Conservative Leader Erin O’Toole. Canada’s recovery from the Covid-19 crisis and risings costs of living are key issues ahead of the Sept. 20 vote, which polls suggest could go either way.
“In an effort to remain apolitical, expect the Bank to soft-peddle the weakness in growth, and emphasize that there’s plenty of uncertainty,” Benjamin Reitzes, Canadian rates and macro strategist at a Bank of Montreal, said in a report to investors. Any talking up of weak output and hot inflation data “runs the risk of being pulled into the election campaign,” he added.
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As to your other points, why is every other country also facing the same issues, yet you see it as a BOC created issue?
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Inflation may be a global issue, but the results on the economy are local and we let our housing market run wild and kept the floodgates of free money open for way longer than it was warranted.
The US's recent poor policies doesn't absolve the BoC in its duty to protect the Canadian economy and has made extremely hazardous statements in the past 2 years.
https://www.bnnbloomberg.ca/interest...klem-1.1465901
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“Our message to Canadians is that interest rates are very low and they’re going to be there for a long time,” Macklem said at a press conference Wednesday.
“If you’ve got a mortgage of if you’re considering making a major purchase, or you’re a business and you’re considering making an investment, you can be confident rates will be low for a long time,” Macklem said.
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Suckers.