Bank of Canada warning that COVID-19 could do lasting damage to the Canadian economy

Bank of Canada Governor Tiff Macklem speaks to reporters about Canada's economic outlook, and the federal government's response to COVID-19.

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  1. the News is momentary, everything changes after the talk is finished. What they say is irrelevant.

  2. I’m sure they will just print a shitload of money, and devalue any savings the average Canadian managed to bank.

    1. central banks are the way to take from every one without you seeing a hand directly in your pocket but it’s the same thing

    2. @Meckle Have you ever heard of the whole 2% inflation target? They already deliberately devalue the currency, and have been doing so for a very long time.

  3. No.. stupid tyranical governments and woke companies WILL do lasting damage to the Canadian economy.

  4. All those insiders are laughing they made billions off of canadians and we will be poorer than ever canazuela!

    1. I said three months ago that we’ve been turned into the commodity and this was all just a big debt farming harvest,my co workers called me crazy.

    2. It’s also why I believe they won’t tank the economy completely they just farm a bunch of debt from the cash cows through some kind of crisis every ten years or so

    1. And why isn’t that a problem? Sure going from an ultra wealthy lifestyle to a wealthy lifestyle sounds fine but it can be almost as traumatic as a regular person going into poverty. Its all about relativity. Its humiliating in the higher up social circles to go from flying on private jets to having to fly business class. Imagine going from owning several supercars to having to sell them and just owning several luxury sedans… it’d be similar to lets imagine yourself having to eat out of a garbage can, that is the equivalent. There are many organizations set up to help the poor, its time that some of those are redirected in times like this to the bank owners, board of directors, trustees and their chief executive officers.

  5. Who do these jackals believe is still taking them at their word?
    Seems like a pointless statement to me …

  6. They buy bonds at 3 billion a week with 0 interest. That must be nice why can’t I get this free money

  7. With this in mind, I guess the major bank CEO’s will be taking a pay cut like the rest of Canadians….yes?? Don’t hold your breath.

  8. Stop the QE and let real estate prices fall. Lets have a REAL market economy and it will take care of itself.

    1. Are you crazy?! If they stop the QE, how the ones like ”Bombardier” will keep stealing the money(sorry currency)? First they have to take care of their ”clients” and after whatever, let it fall. They should let the market and economy ”heal” and balance by herself since 2008. Now the problem is much much bigger. The ”BLM” riots was just the exercise. I’m curious what will be when the 6 month waiver program for houses mortgage will end (or even closer when the gov ”free” money end…btw, I was betting with a friend as the 2000$ free money will go on at least another 2 month and I was right)

    2. @expresscargocarmen DruidWow it will be more than 2 months, its called UBi. with companies opting out for working at home nd now they will pay employees who work at home based on where they live and also doing remote hiring UBI wil become the norm

  9. srsly ? i dont even need a finance degree to know that but banks will still report billions in profits

    1. Just to answer this question since I do have some general background in economics and finance, the central bank lend money to private banks that needs immediate cash and they charge overnight interest on the amount.

  10. It’s not caused by a virus, it’s caused by governments the world over including Canada turning totalitarian and decimating the economy.

  11. no trudoh has done more damage to the economy then any virus has he’s been destroying Canada since 2015 with outrageous spending and no plan to balance the budget he thinks they balance them selves? and this is the pm????

    1. With a high forehead and ugly mug such as yourself, I wouldn’t be slinging any hate at anyone else.

  12. The government has been transparent on spending?.. We’re talking about Canada, right? And our closed down parliament?

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