Gravelle pointed to the 2008-2009 financial crisis and the outset of the COVID-19 pandemic as examples of where the bank had intervened in the past. But there were also lessons taken that would be addressed in the future, he said.
Gravelle said that penalty pricing – which would make the program unattractive once financial conditions improve – would be built into future extraordinary actions, which would be taken only in “extreme market-wide situations, when the entire financial system faces funding constraints.”Article content
Gravelle said if there were another massive crisis that the bank could not address through its emergency tools, “we may well be in a ‘break the glass’ situation … may resort to large scale Government of Canada bond purchases.
Certainly, Canadians have seen how slow BoC was ‘ready to act’ “. Hike the interest rate more so inflation goes away completely & doesn’t return back again! 😅
Interest rate increases again?
The mean bail-ins and currency controls. We're in serious trouble.
By raising interest rates again?
What about under circumstances (like now) where the population is just being slowly bled dry? Collect those taxes, baby! Right?
Because of interest rates I would guess they are still fixed high
like what, 29% interest?
Money printer go brrrr?
ooooOoOooOooooOoh they are stressing alright, I work for a major bank in Toronto and the meetings I have been privy to are not a good sign of things to come...
Both of those banks went woke instead of taking care of real business. They went broke. Any banks that are flogging DEI, ESGs and SDGs needs to be examined imho. Exposure to directed funds like that is dangerous.
bend over taxpayers. foreign investors have needs
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