George_V2
$BNS $BNS.TSX PM doesn't worry, he just made a deal with European Zombie. A new round of 50% U.S. tariffs on Canadian goods takes effect later this week, on Oct. 30, and the Bank of Canada is predicted to increase interest rates two days earlier. Both can hit household budgets whether or not a deal gets signed.
International trade lawyer Barry Appleton told CTV News the overall policy hasn’t retreated: “Washington didn’t lower the tariff wall ... they kind of moved some bricks around.”
Those bricks land right on Canadian employers. Jean-François Dufresne, CEO of Quebec hardwood flooring maker Preverco, told CTV News the new duties could cost the company a quarter of its business overnight.
Inflation is the main trigger, and Statistics Canada recently reported that annual inflation rose to 3.1% in September as conflict in the Middle East pushed up gas prices.
Mortgage, each quarter-point increase adds about $250 a year in interest for every $100,000 owed.
Banks up 🤡🤣
