RE:RE:RE:RE:RE:Welcome back $40I will agree that rates do not need to be cut. Housing (and I can only speak of the GTA), is out of control again. Multiple bids are back. Unfortunately, unless there is a recession wages will remain elevated and consumer prices elevated.
Also, for the record, Biden, Truedeau and even Trump and Poilievre do not set interest rates. Whoever thinks they do are grossly misinformed.
nedstar71 wrote: IntrinsicValue1 wrote: Disagree!
Everyone merely thinks a rate cut is coming?
inflation is still out of control despite what those fools want us to believe. Rates still meed to go up in the states and to a lesser degree in Canada. Only when wage growth drops should rates cuts be considered. Have you gone to a restaurant lately or brought your car in to be serviced? Price hikes are insane. Meanwhile real estate is far overvalued and any rate cuts will just make real estate even less affordable. Our bankers need to heed the lessons of history and stop trying to make weak and spolied generations happy with rate cuts that will only end up hurting society.
Much of this I agree with. There is no reason whatsoever to cut rates any time soon, and the market's obsession with jumping the gun predicting imminent rate cuts is misguided. There is no need, and some pain in the housing market needs to be felt. And markets for that matter are trading near all time highs. Low unemployment, wage growth, inflation above target. Cut rates? Why? To sooth the whiners who want more cheap money that got us into this mess to begin with? These are the types who vote for Trudeau and Biden.