Canada’s Economy at Risk on Tariffs - 2.5-6% GDP Decline: BoC Reports
#bankofcanada #trumptariffs #canadaeconomy Canada’s economic growth could fall between 2.5% and 6% on the 25% tariffs set to be imposed by the United States on February 4th – This according to multiple reports from the Bank of Canada. Links: Monetary Policy Report – January 2025: https://www.bankofcanada.ca/publications/mpr/mpr-2025-01-29/ Monetary Policy Report - July 2019: https://www.bankofcanada.ca/wp-content/uploads/2019/07/mpr-2019-07-10.pdf The Impact of a Trade War: Assessment of the Current Tariffs and Alternative Scenarios: https://www.bankofcanada.ca/wp-content/uploads/2019/07/san2019-20.pdf Trump slaps 25% tariffs on Canada as of Tuesday: https://www.montrealgazette.com/news/article725061.html 'No economic justification': Alberta premier responds to 10% tariff on Canadian oil: https://www.cbc.ca/news/canada/calgary/smith-responds-american-tariffs-1.7448205 Trump is starting a trade war. If he wants to absorb Canada, what comes next will be worse: https://www.cbc.ca/news/politics/trump-trade-war-vs-economic-war-1.7447927 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 Bank of Canada Signals Low Rates Until 2023, Unveils Changes to QE Program: https://www.canadianmortgagetrends.com/2020/10/bank-of-canada-signals-low-rates-until-2023-unveils-changes-to-qe-program/ Monetary aggregates: https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ Moral Suasion (Jawboning): Definition, How It Is Used, and Example: https://www.investopedia.com/terms/m/moralsuasion.asp Bank of Canada cuts rates, says tariffs could stoke persistent inflation: https://www.reuters.com/markets/rates-bonds/bank-canada-cuts-rates-says-tariff-war-could-be-very-damaging-2025-01-29/ Canada GDP Annual Growth Rate: https://tradingeconomics.com/canada/gdp-growth-annual Infra-Annual Labor Statistics: Unemployment Rate Total: 15 Years or over for Canada: https://fred.stlouisfed.org/series/LRUNTTTTCAM156S Bank of Canada cites Trump tariff threats in decision to cut key interest rate to 3%: https://www.thestar.com/business/bank-of-canada-cites-trump-tariff-threats-in-decision-to-cut-key-interest-rate-to/article_cb7e9ba0-dd96-11ef-9b5b-330ec95f7d8d.html Rate cuts likely to revive Canada's real estate sector: https://www.bnnbloomberg.ca/video/shows/trading-day/2025/01/29/rate-cuts-likely-to-revive-canadas-real-estate-sector/ Real Residential Property Prices for Canada: https://fred.stlouisfed.org/series/QCAR368BIS Gross domestic product (GDP) at basic prices, by industry, annual average: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610043403 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.
