Poll: June 7th interest rate announcement
What do you think the BoC will do tomorrow at 10a.m.?
Posted Jun 6, 2023, 8:45 PM UTC
529
As of the time of my comment, the market is looking at a 29% chance of a hike tomorrow. It’s 2:33 PST here.
6
In other words. 29% of people contributing to that poll are basement dwelling renters 😂
1†
Watch all the people on here act like they are surprised when it’s a hold tomorrow. Yawn.
2
DeeDee lusional
Ain't no way in west india that rates are going up
Mark it Remember this post Cuz I'm right
3
Dee Dee Dead
1
It's so obviously going to be a hold. Geeze guys.
Edit: NOW THAT WAS UNEXPECTED
2†
- no labour data. Need the unemployment data to make a decision
- the rate is already high, there’s little risk to holding it
- a lot of last months inflation was from shelter costs, which comes from higher rates and was due to last years crash
- every month more people renew their mortgages, and the rate has a higher impact
Therefore I think hold. Let it take its course
3
"In order to protect the integrity of our housing market and realtor profession we have decided to implement a 100bps rate cut immediately"
1
We are at an inflexion point where increasing rates just increases inflation, given how much of the core inflation was due to mortgage payment inflation now.
Added to that, interest rate increases impact developers and construction in terms of their cost of borrowing, which they either pass onto home purchasers or cutting back volume of developments.
Be careful what you wish for. An increase in interest rates affects everyone, businesses included.
1†
Burn it to the ground.
-2
Tell that to people who pay rent
1
"The world isn't fair, I'm poor. Blow up the world!"
1†
Lol 😆 not sure I meant blow up the world.
1
I'm a bit surprised that most thinks there will be a raise today (June 7th). I voted for no raise but I have to respect the wisdom of the crowd as the majority has been correct in their previous predictions. I did these polls for the September, October, December, January announcements, and you guys have been right on.
1
If you exclude RE from your thought process, rate increase is kind of obvious to fight back inflation.
1
[removed]
1
hold. wait until june 27th cpi print. hike if said print is ugly.
-1
It'll be a hold this time. Hike next time. Guaranteed.
-8
You're guaranteeing what the Bank of Canada's going to do on its NEXT announcement?
Ballsy move man.
4
You could say I'm calling it right now, Mr. CallingItRightNow
3
There is a guy who predicted 3 consecutive hikes earlier this year. There are some brilliant economists out there.
3
I don't even think Tiff knows what he's eating for breakfast tomorrow, but you know this man so well you know what he gonna do in July.
-1
I voted for interest rate cuts just for the sake of Hopoke’s mental health
I thought that couldn't be real
I think secretly you want a rate cut because you own investment properties.
You're a dirty landlord.
That would only make sense if I didn’t see what’s coming months ago and sold a majority of our properties already.
What did I tell you a while ago while you laughed at me? Is it really going to have to be “tuition” fee for you to understand? Where is u/Hopoke. I need him to explain his fundamentals to me again lmfao
Do you really believe these minor rate hikes are going to make a significant difference? The impact will be minimal, if not non-existent.
Is this the same logic you applied when you said rate cuts will be made in early 2023?
Still laughing at you man. Prices are going up even with higher rates, while rents skyrocketed. Still doesn't make sense for people to sell their investments. Especially if its properties that were purchased well before the pandemic.
I guess you really don’t understand lol. Good luck