Bank Of Canada Delivers Second Straight Half Point Cut 78A5C98
Wall Street JournalDEC 2024
Bank of Canada Cuts Rate by 50 Points
Above: Tiff Macklem, governor of the Bank of Canada, during a news conference in Ottawa, Ontario, Canada, on Wednesday, Dec. 11, 2024. Image copyright: David Kawai/Contributor/Bloomberg via Getty Images
The Spin
Left narrative
With inflation at 2% and rate cuts boosting household spending, Canada’s economy remains resilient. Despite slower GDP growth and softer job markets, the country's fundamentals are strong, including a rise in companies hiring workers. Historically, Canada has weathered US tariff threats, including Trump’s exaggerations and provocations. Bilateral economic integration ensures Canada will withstand such pressures while maintaining stability.
Right narrative
Trudeau's government continues to gaslight the country into thinking his money-printing schemes aren't destroying the economy. The budget deficit is also about to worsen as the Liberals introduce costly measures like GST and HST waivers, projected to cost over $1.5B, and $250 checks that will cost over $4B. Between shrinking economic growth and a bloated budget, Trudeau has a duty to call an election so the people can voice their grievances.