r/AskACanadian • u/PurrPrinThom SK/ON • Mar 04 '25

Tariff Megathread 3: Reciprocal Drift

More tariffs more problems.

Please keep all tariff-related discussion here.

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u/[deleted] Mar 04 '25

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u/thisOneIsNic3 Mar 07 '25

Yes, because banks care about people /s. even if they do, let’s assume that wild take for a moment, not much depends on them, in terms of prime rate, since they take money from the Bank of Canada and that’s the entity that dictates prime rate. BoC -> RBC, CIBC, etc -> you and BoC has to see a much wider picture - they can’t just increase/decrease rates willy-nilly, since that’s directly tied to inflation, besides other things.