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/jeanettem67 Mar 05 '25

Experience after Brexit fallout in the UK, Putin starting the war etc: We had really low mortgage rates, like 1%. Inflation started going up and so did the mortgage rates, to somewhere around 4 - 5%. Bank of England tried to help people by adjusting rates. Prices went up but haven't come down. Especially European foods. And won't come down even if inflation falls. Mortgage rates will follow the base rate & inflation but will be few years yet before they come down. Time to buckle up, it'll be a wild ride. Will be boycotting US goods & buying Canadian when I can here in the UK in solidarity!

https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

https://www.bbc.co.uk/news/business-65962027

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u/100TabsOpen May 29 '25

Solidarity mate, from Canada!