Bank of Canada Not Done Cutting: Robert Embree - Rosenberg Research
The Bank of Canada might not be done cutting yet. Vice President and Senior Economist Robert Embree from Rosenberg Research joins me to break down why more rate cuts could be coming, how CUSMA negotiations could reshape trade with the U.S., what rising unemployment really means, and how global pressures are shaping Canada’s economy. #bankofcanada #canadianeconomy #canadaustradewar Chapters: 00:00 — Intro & Bank of Canada’s Rate Outlook 00:22 — Unemployment Numbers and Job Market Volatility 01:21 — Pause or Cut? The Bank of Canada’s Next Move 02:03 — Neutral Rate, Inflation, and Labour Market Slack 03:23 — Youth Employment and Labour Market Shifts 05:05 — Structural vs. Cyclical Problems in Canada’s Economy 06:24 — Household Debt and the Mortgage Renewal Cliff 08:33 — Tariffs, Oil Prices, and Broader Economic Pressures 10:17 — Housing Market Outlook and Regional Risks 11:57 — Trade Policy, Trump, and CUSMA Renegotiations 14:30 — Tariff Uncertainty and Investment Impacts 16:35 — Government Response and Fiscal Expansion 18:34 — Budget Reforms, Infrastructure Spending & Outlook 19:16 — Closing Thoughts and Final Remarks 20:40 — Post-Interview Outro / Wrap-Up Links: Carney, Trump take questions at 2nd Oval Office meeting | See full Q&A with reporters: https://www.youtube.com/watch?v=zaQSsjr-w9Y Canada's economy added 60,000 jobs in September, with gains led by manufacturing: https://www.cbc.ca/news/business/canada-economy-jobs-september-9.6934431 Canadian economy bled 66,000 jobs in August as unemployment rate at its highest since 'pandemic days': https://www.cbc.ca/news/business/canadian-economy-bled-66-000-jobs-in-august-as-unemployment-rate-at-its-highest-since-pandemic-days-1.7625918 Canada's economy shed over 40,000 jobs in July, partly offsetting earlier growth: https://www.cbc.ca/news/business/canada-labour-force-survey-july-1.7604068 Donald Trump’s fortress economy is starting to hurt America: https://www.economist.com/leaders/2025/10/09/donald-trumps-fortress-economy-is-starting-to-hurt-america Oil prices tumble to a 5 month low on new Trump tariff threats: https://globalnews.ca/news/11474302/oil-prices-tumble-trump-tariff-threats-china/ Infra-Annual Labor Statistics: Unemployment Rate Total: 15 Years or over for Canada (LRUNTTTTCAM156S): https://fred.stlouisfed.org/series/LRUNTTTTCAM156S Canada adds 60K jobs, youth unemployment rate highest in 15 years: https://www.919thebend.ca/2025/10/10/canada-adds-60k-jobs-youth-unemployment-rate-highest-in-15-years/ Two-thirds of Canadian employees are quiet quitting, study finds: https://www.theglobeandmail.com/business/careers/article-two-thirds-of-canadian-employees-are-quiet-quitting-study-finds/ Household debt-to-income ratio ticks higher in Q2: https://www.investmentexecutive.com/news/research-and-markets/household-debt-to-income-ratio-ticks-higher-in-q2/ HOUSEHOLD DEBT AND CREDIT REPORT: https://www.newyorkfed.org/microeconomics/hhdc Employment change by industry, September 2025: https://www150.statcan.gc.ca/n1/daily-quotidien/251010/cg-a003-png-eng.htm Canada must come ‘second’ to U.S. in auto sector, Howard Lutnick warns behind closed doors: https://www.thestar.com/politics/federal/canada-must-come-second-to-u-s-in-auto-sector-howard-lutnick-warns-behind-closed/article_06eb3dce-af37-4303-bd47-4bcca227c353.html Carney: U.S. auto sector needs CUSMA to compete: https://financialpost.com/transportation/autos/us-auto-sector-continental-trade-compete-carney U.S. stock markets tumble after Trump says he's raising China tariffs to 100: https://www.cbc.ca/news/business/trump-threatens-more-tariffs-china-market-reaction-9.6934975 Canadian softwood producers hit with new 10% tariff on lumber shipments into U.S.: https://www.theglobeandmail.com/business/article-canadian-softwood-tariff-trump/ GM is moving production from Oshawa to Indiana. Here's what they're saying across the border: https://www.cbc.ca/news/canada/toronto/gm-production-fort-wayne-1.7642742 Mark Mitchell – Mortgage Broker London Ontario 920 Commissioners road east London, Ontario N5Z 3J1 Phone: (519)860-2102 (Call or Text) MarkMitchell@LondonOntarioMortgages.ca Brokerage Lic: 10464 Broker Lic: M16001479 https://www.LondonOntarioMortgages.ca – Apply Online!! Youtube Channel: https://www.youtube.com/c/MarkMitchellMortgageBrokerLondonOntario Subscribe NOW for more Mortgage/Financial News/Videos. Follow me on Social Media: Instagram - https://www.instagram.com/mortgagebrokerlondonontario Facebook - https://www.facebook.com/londonontariomortgages Twitter - https://twitter.com/londonmortgage1/ LinkedIn - https://www.linkedin.com/in/mark-mitchell-london-s-mortgage-broker-197842123/ TikTok - https://www.tiktok.com/@mortgagebrokerlondon?lang=en Commentary on this Channel should not be considered financial advice.
