Bank of Canada Raises Rate | Page 2 | General financial discussion | Discussion forum

Why do people keep calling Pierre Polievre "Poliver?" Even during the televised debates? Is that some sort of in-joke insult? I can only think of the Game of Thrones books...
RetirEd

RetirEd said
Why do people keep calling Pierre Polievre "Poliver?" Even during the televised debates? Is that some sort of in-joke insult? I can only think of the Game of Thrones books...
RetirEd  

His name is spelled Poilievre not Polievre.
I also noticed that Dr. Lewis called him Mr. Poliver in the debates.

dougjp said

Nothing surprising about it. English (only) speaking people have difficulties pronouncing any name with a bunch of vowels sprinkled together.  

None of my anglophone friends and business colleagues in Canada, USA and UK ever had trouble with that once they listened to the correct pronunciations ...

First, my apologies for getting Poilievre's spelling wrong. But "Polliver" is not a pronunciation error!

Then:

Poilievre's recent performances make it pretty clear that he understands nothing (or at least a lot less than my humble self) about cryptocurrency or the Bank of Canada. He's just farming anger for political ammunition.

I've still not really sorted out (as a mathematician) why higher interest rates don't drive inflation up, not down. My most likely suspect is that it's a lot harder for employees to force incomes up than for vendors to increase prices. The worker shortage and COVID-19 benefits gave consumers a boost that inflation is "trying to take back." (Not that inflation has any more intentionality than evolution)

I am still very suspicious of the effects of widespread consumer credit on our economy. So much of our output is being sucked up in debt servicing, savings are rare (well, not among us here) and goods become junk needlessly. (Just look at the sudden recognition that used cars are precious today!)

RetirEd
(An Anglophone from Quebec)

That worker scarcity/power imbalance is likely temporary. One astute HISA forumite noted that workers realized that they can do their jobs remotely. Once employers realize the same, they will see that they can hire remote workers on the other side of the world even more cheaply.

White collar employee shortage will be solved by getting more done by each ‘remaining’ employee. The employee that still has a job will get paid more, the lesser guy who demand same pay but not able to deliver will be out the door. The lesser guy will have to settle for less at the end. The situation will sort itself out, may take a while.
As for blue collar, there is a real floor the min number of workers required I imagine.

AllanB said
It was a no-brainer to raise rates at least a quarter point in one two or three settings. Not even a quarter? That makes it obvious to me they are not independent.

It is a known fact that Chrystia Freeland gave the Governor of BoC its mandate when she took office following the last federal elections.

Bank of Canada can sell the bonds to fill some of the normal demand for government bonds from investors, like pension funds and ETF's.

The bank has been reinvesting the money returning as some of the bonds have been maturing. Bank can stop rolling over matured bonds.

The printed money for QE eventually comes back to the Bank of Canada along with interest.

.
. . . and more increase are sure to come, after that ⬆

Dean

lifeonanisland said

Agreed, Dean. Which raises the most important question: how long to juggle and wait? This is my dilemma. Higher rates coming. But seems likely that recession will result. Will BoC and US Fed stick with the program and rip the bandage right off? Or will they panic 9 months from now, and start easing rates again? Looking for a crystal ball on ebay right now...  

Whatever happens, we'll know things have peaked when the BoC & the Feds stop raising their rates. It's anyone's guess, when that'll happen.

Good Luck with that Crystal Ball.

Dean