Bank of Canada Warns 2025 Isn't 2020: "It's a Different Shock"

#bankofcanada #canadaeconomy #trumptariffs The Canadian economy won’t be ‘bouncing back’ in a 2025 trade war (and the Bank won’t be cutting rates) like it did during the 2020 pandemic – This according to Bank of Canada Governor Tiff Macklem at a speech given on Friday. Links: Speech by Governor Tiff Macklem / Discours du gouverneur Tiff Macklem: https://www.youtube.com/watch?v=qkSDwM9Mh0A&t=361s Media availability on February 21, 2025 / Point de presse le 21 février 2025: https://www.youtube.com/watch?v=N2YADEPcK30 ‘No economic bounceback’: Bank of Canada governor says trade war could hurt the economy more than pandemic: https://www.thestar.com/business/no-economic-bounceback-bank-of-canada-governor-says-trade-war-could-hurt-the-economy-more/article_f58bf28a-eee9-11ef-a0dc-3f4cc8474f1c.html Bank of Canada rate cut lifts housing market activity: TD chief economist: https://www.bnnbloomberg.ca/business/real-estate/2025/01/29/bank-of-canada-rate-cut-lifts-housing-market-activity-td-chief-economist/ TD Bank fined $3B US after pleading guilty in historic U.S. money-laundering case: https://www.cbc.ca/news/business/td-bank-penalties-1.7348819 Falling fixed mortgage rates could be booster juice for buyers: https://financialpost.com/real-estate/mortgages/mortgage-rates/falling-fixed-mortgage-rates-could-be-booster-juice-for-buyers Tariffs bad news for economy but maybe not so much for homebuyers: https://calgaryherald.com/life/homes/tariffs-bad-news-for-economy-but-maybe-not-so-much-for-homebuyers Ottawa planning pandemic-level relief for workers, businesses if Trump imposes tariffs, sources say: https://www.theglobeandmail.com/politics/article-trump-tariffs-canada-planning-massive-relief-workers-businesses/ Policy interest rate: https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/ Infra-Annual Labor Statistics: Unemployment Rate Total: 15 Years or over for Canada: https://fred.stlouisfed.org/series/LRUNTTTTCAM156S Tariffs, structural change and monetary policy: https://www.bankofcanada.ca/2025/02/tariffs-structural-change-and-monetary-policy/ Bank of Canada plans to keep interest rate near zero until 2023: https://www.cbc.ca/news/canada/bank-of-canada-rate-decision-1.5779813 Monetary aggregates: https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ M2: https://fred.stlouisfed.org/series/M2SL Time to invest in the U.S. dollar?: https://www.morningstar.ca/ca/news/201961/time-to-invest-in-the-us-dollar.aspx Crush it: Bank of Canada Governor Tiff Macklem says a crisis is no time for half measures: https://www.theglobeandmail.com/business/article-crushing-it-bank-of-canada-governor-tiff-macklem-says-a-crisis-is-no/ Stagflation-lite could still make policymakers sweat: https://www.theglobeandmail.com/investing/article-stagflation-lite-could-still-make-policymakers-sweat/ Canadian workers strike against wage controls, 1976: https://nvdatabase.swarthmore.edu/content/canadian-workers-strike-against-wage-controls-1976 Bank of Canada assets and liabilities: Weekly (formerly B2): https://www.bankofcanada.ca/rates/banking-and-financial-statistics/bank-of-canada-assets-and-liabilities-weekly-formerly-b2/ Keep calm and borrow on: Chrystia Freeland and the new logic of deficits in a pandemic: https://www.cbc.ca/news/politics/freeland-deficit-pandemic-covid-otoole-poilievre-1.5780809 Lenders now seeing 60-, 70-, even 90-year mortgages as Canadians struggle with rocketing interest rates: https://www.thestar.com/business/lenders-now-seeing-60--70--even-90-year-mortgages-as-canadians-struggle-with/article_91dd72d2-bfeb-578f-a72f-bc72dc1e1e74.html Bank of Canada says federal budget could hinder inflation fight: https://www.reuters.com/markets/boc-governor-says-if-inflation-goes-higher-rates-will-be-hiked-2024-02-01/ 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.