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Bank of Canada to Cut Rates 100-200bps in 2024, 300bps this Cycle: Rosenberg [Video]

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Canadian Economy and Markets

Bank of Canada to Cut Rates 100-200bps in 2024, 300bps this Cycle: Rosenberg

#bankofcanada #canadianinterestrates #canadarealestate

The Bank of Canada will be cutting interest rates by 100-200bps in 2024, 300bps in total, due to the looming Canadian ‘Debt Crisis’ – this according to David Rosenberg and Ed Devlin during an interview with Bloomberg.

Devlin, Rosenberg warn current levels of interest rates in Canada are unsustainable:

https://www.youtube.com/watch?v=sfsEulYFvHs&t=134s

High rates untenable amid household ‘debt crisis’: Rosenberg:

https://www.bnnbloomberg.ca/high-rates-untenable-amid-household-debt-crisis-rosenberg-1.2004500

Devlin, Rosenberg warn current levels of interest rates in Canada are unsustainable:

https://www.bnnbloomberg.ca/video/devlin-rosenberg-warn-current-levels-of-interest-rates-in-canada-are-unsustainable~2817001

Scotiabank profit falls as bank sets aside almost $1.3B to cover bad loans:

https://www.cbc.ca/news/business/scotiabank-earnings-1.7041965

Household Debt Service Payments as a Percent of Disposable Personal Income:

https://fred.stlouisfed.org/series/TDSP

Proof Point: More Canadians to fall behind on debt payments—but most will manage:

https://thoughtleadership.rbc.com/proof-point-more-canadians-to-fall-behind-on-debt-payments-but-most-will-manage/

HOUSEHOLD DEBT AND CREDIT REPORT:

https://www.newyorkfed.org/microeconomics/hhdc

Household sector credit market summary table, seasonally adjusted estimates:

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3810023801

National Statistics:

https://creastats.crea.ca/en-CA/

Scotiabank fourth-quarter profit falls short as loan-loss reserves, expenses rise:

https://www.theglobeandmail.com/business/article-scotiabank-fourth-quarter-profit-falls-short-as-loan-loss-reserves/

What is CMHC Mortgage Loan Insurance?:

https://www.cmhc-schl.gc.ca/consumers/home-buying/mortgage-loan-insurance-for-consumers/what-is-mortgage-loan-insurance

Unemployment Rate:

https://fred.stlouisfed.org/series/UNRATE

Unemployment Rate: Aged 15 and over: All Persons for Canada:

https://fred.stlouisfed.org/series/LRUNTTTTCAM156S

Average Sales Price of Houses Sold for the United States (ASPUS):

https://fred.stlouisfed.org/series/ASPUS

Interest Rates: Immediate Rates (24 Hours): Prime Rates: Total for Canada:

https://fred.stlouisfed.org/series/IRSTPI01CAM156N

Inflation, consumer prices for Canada:

https://fred.stlouisfed.org/series/FPCPITOTLZGCAN

Unemployment rate inches up to 5.7% despite Canada adding 18,000 jobs last month:

https://www.cbc.ca/news/business/jobs-hiring-october-1.7017425

Scotiabank profits weighed down by bad loan provisions, layoff charges:

https://ca.finance.yahoo.com/news/scotiabank-reports-q4-profit-down-113741855.html

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