Bank of Canada Interest rates update, Bill C2 Strong Border Act

[00:00:02] Speaker A: And now News takeaway. [00:00:12] Speaker B: News takeaway segment Good morning welcome just please Good morning. [00:00:17] Speaker A: Connect Good morning yeah much better progress. [00:00:27] Speaker B: Bank of Canada right now press conference interest rate unchanged reha 2.75% interest rate 25 basis points April steady again steady Uncertain economic situation due to tariffs situation. [00:01:05] Speaker A: Overnight lending rate 10% 2.75% widely expect so the overnight lending rate 4.95% so bank of Canada monetary policy report. [00:01:56] Speaker C: US. [00:01:57] Speaker A: Administration continues to increase and decrease various tariffs Various tariffs Negotiation career trade deal even EU Then tariffs negotiations Economic activity We can get ahead of the tariffs maybe economic activity. [00:03:33] Speaker C: Domestic demand. [00:03:49] Speaker A: Imports Apniyakatoni Export Kariyakarna import Katkani effective. [00:04:01] Speaker C: US the. [00:04:01] Speaker A: GDP USD Inflation it's yet to be felt Europe the economic growth temporarily defense spending so China fiscal support the TC Chinese economy support fading away so Chinese economy so international economies main sectors Europe the US China oil prices can they fluctuate April Monetary Policy Report Canadian GDP this was slightly more than we projected in the Monetary policy report analysts 1.7% I think bank of Canada the projection was so slightly more than what we projected in Monetary Policy Report did he grow the composition can they be oh, it's largely as expected the inventory accumulation economic activity domestic demand. [00:06:20] Speaker C: Change Domestic demand. [00:06:24] Speaker A: Business investment machinery equipment Economic activity housing activity which main reason sharp contraction in resales sharp contraction unemployment 6.9% economy is expected to be considerably weaker in second quarter so bank of Canada second quarter economy it will be important considerably weaker so TD bank economy SADI contract Karagi second quarter the third quarter we will actually enter technical recession so bank we carry a Bank of Canada considerably weaker second quarter second quarter main reason they have a carbon taxi Consumer expectation Tariffs are still high Economy soft but not sharply weaker economy Unexpected firmness in inflation Expect NISI Governing Council Governing Council bank of Canada as we gain more information about U.S. trade policy and its impact. [00:08:44] Speaker B: So basically uncertainty bank of Canada. [00:08:55] Speaker C: Economy soft. [00:09:00] Speaker A: Inflation bank of Canada we will be proceeding very carefully so proceeding carefully Proceeding carefully with attention to risks Risks Risks Exports economy fair business investment fair. [00:09:40] Speaker C: Employment the household spending. [00:09:53] Speaker A: Businesses we are focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval we will support economic growth Economic growth while ensuring inflation remains well controlled. [00:10:33] Speaker B: Inflation. [00:10:42] Speaker A: Bank of Canada interest rate so it is like exactly as expected. [00:10:56] Speaker B: Absolutely or disappointment Auto parts manufacturers Automotive parts Manufacturers Association Auto industry Steel aluminum Other than that also auto manufacturing industry Cost of borrowing money. [00:11:47] Speaker A: For bank of Canada bank of Canada the Pharisee economy bank of Canada is sleeping at the wheel so they have to strike a balance between inflation and economic growth Economic growth as of now temporarily it's taking care of itself Donald Trump Engineer tariffs. [00:12:25] Speaker B: In the very short term. [00:12:27] Speaker A: So it's taking care of itself so if the economy is taking care of. [00:12:46] Speaker C: Itself right now. [00:12:53] Speaker A: Inflation 1.7 unemployment rate so interest rate so that's the sign of weakness so then you yes you cut the rate Unemployment data sets inflation GDP growth unemployment rate unemployment so economy. [00:13:24] Speaker C: Needs support. [00:13:27] Speaker A: So plus second to third quarter economic growth. [00:14:06] Speaker B: So since we are talking about tariffs as well steel 25% 25% Canadian steel aluminum but UK. [00:14:41] Speaker A: So midnight eastern time executive order signal so Donald Trump Jokathe Anyway half of it is imported from other countries and a. [00:15:38] Speaker B: Big chunk goes from Canada big chunk. [00:15:41] Speaker C: Major chunk. [00:15:44] Speaker A: Aluminum America used more than half the import so Jeddah import Kardeni oh Canada is the largest supplier so aluminum total import Karda America they just steal the galker almost 25% so Jinnini America import Korea steel almost 25% of it 1 4th Canada. [00:16:11] Speaker B: Ontario basically steel production aluminum producer Industry Minister Melni Jolie question period industry officials. [00:17:03] Speaker A: Yeah USA Dominic LeBlanc US Canada trade relationship in charge name so US Commerce Secretary Howard Appeals Courte so there's still a chance Donald Trump so the legality we have Canada the steel aluminum America auto manufacturers automobile tariffs automobile manufacturers aeronautics sectors automobile sector beverage industry Coca Cola aluminum beer companies Budweiser Canadian aluminum is small so beer Mangi Hojani pop Mangi Hojani her cheese aluminum pause carve out sorry yeah so Canada the steel aluminum so they need our steel aluminum. [00:19:55] Speaker B: Public Safety Minister Gary Anand Sangri announced Kitasiga Bill C2 Strong Borders Act Public Safety Minister Gary ananda Sangre Bill C2 legislation changes proposed Kitiya Jari basically changes proposed Kitiya Jariya Bill C2 Strong Borders Act Smuggling financial crimes e.g. money laundering financial crimes institutions so main themes in the announcement Public Safety Minister Gary Ananda Sanghrine Bill C2. [00:21:20] Speaker A: Royal Financial transactions security agencies intelligence agencies which is changes existing so main reason is context human smuggling drug smuggling illegal migrants Canada Donald Trump so Donald Trump 247 monitoring apnea borders secure Karna Chaunaya Public safety situation strong borders actors ability to collect digital evidence Digital evidence mobile phone laptop intelligence multiple times judge. [00:23:45] Speaker C: CBS. [00:23:52] Speaker A: Containers the Carter per Jadas man Sadh export Horia Patavi Abios container authorities coach Karni Kanuna jazz containers major change asylum claims so domain changes. [00:24:43] Speaker C: Student permits. [00:24:50] Speaker A: Asylum claims more than 365 days faith asylum claim nailagasadi risk assessment risk assessment safe third country agreement us then al sada yes so safe third country agreement immigrant so America official port of entry. [00:26:28] Speaker C: Agent. [00:26:31] Speaker A: Canadian border agent US is a safe third country for you. [00:27:04] Speaker B: It is a safe third. [00:27:09] Speaker A: Country agreement. It only applies to the official ports of entry illegally Unofficial port of entry official port of entry safe third country agreement Criminal investigation so Canada Post so A power coast guard civilian agency data collect karani intelligence military civilian agency military sharing important change money laundering so DAs cash transactions so cash transactions. [00:29:31] Speaker B: Electronic payment platforms credit cards financial institutions without warrant enforce karna without warrant. [00:30:34] Speaker A: Yeah warehouses trucking company cell phone providers personal information you will have to comply Privacy concerns I'm sure so session privacy they advocates human rights they advocates of course. [00:31:51] Speaker C: The need. [00:31:51] Speaker A: Of the hour right now Hamisha Higal Hundiya KG Agenciale police we let them go scot free evidence sharing intelligence sharing agency properly freehand email so we need to be more stringent about it. [00:32:37] Speaker C: Public. [00:32:37] Speaker A: Safety Minister Donald Trump so. [00:33:22] Speaker C: Dominic LeBlanc. [00:33:24] Speaker A: David McGinty Sega Public Safety minister Obi Gay border checker Kaya. [00:34:15] Speaker B: Simple as that. [00:34:28] Speaker A: House of Commons which retroactively Chavi June introduction yesterday Mangalwar. [00:35:01] Speaker B: Actually sub amendment interim opposition leader Andrew interim opposition leader opposition leader in the meantime Conservative leader interim opposition leader throne speech spring economic Update. [00:36:07] Speaker A: Amendment Bill. [00:36:12] Speaker B: 10 Char Liberal MPS Char Liberal MPS. [00:36:16] Speaker A: So total so throne speech did he King Charles deliver Kiti debate debate on the address it's very important economic update amendment throne speech Liberal MP Liberal MP Liberal MP total though Liberals so voluntary informal arrangement the opposition a paired abstention informal convention so mps opposition virtually vote Parisiya Pelaik Mokajuna vote Hoyana Odokari tai hogasimam like so Chantiksu Chante so interesting story APNA of the which initial vote Hoi yogi hybrid session on the House of Commons day so Kaijir mps new virtual Bethe apna Karandi Vicho session Shamal Hondane so iksochant Ikso Chanta tai Hoagi panajo initial vote virtually vote Conservative mpni Chahi virtually apna car formal jacket Nisi Paha is Kirk count Nikitigi Yoki convention voting Karniya Pamiyai Conservative MP I'll read more into it though Liberal mps I look even further into it but interesting story matter of confidence liberals they call the conservatives they call so basically. [00:41:46] Speaker B: Elizabeth. [00:41:52] Speaker A: Conservatives so clearly they are not supporting the throne speech confidence and supply agreement ultimately fair we liberals dancing partner so most likely throne speech support karangay the Liberals Elizabeth JNDP Liberals know throne speech they support Nakita Technically, that would mean government will fall A matter. [00:42:59] Speaker B: Of confidence Government House Leader Stephen McKinnon that is non binding motion so spring economic update so important, but that is. [00:43:24] Speaker A: Not binding Conservatives the will of the Parliament here Majority parliamentarians MPs Spring budget economic update Will you respect the will of the Parliament? Francois Philippe Champagne Multiple ministers We acknowledge the vote. We took note of the vote. [00:44:12] Speaker B: First ministers the meeting Hoisi Prime Minister Markarnina David meeting Hoi Meeting Hoy Ode which Apana BC the representative Premier David Asia pipeline Alberta Daniel Smith Alberta pipeline major infrastructure project national interest. [00:45:12] Speaker A: Yeah so Nikki Sharma Daniel Smith pipeline Hobe proponent Private company proponents project they can see Focus Karna is meeting Duran Una projects Daniel Smith pipeline Sarij pipelines Doug Fort Daniel Smith Kendra BC the Vit export Karna oil tankers Rahi BC Ala Ontario they will sort it out Understanding I'm very confident they would work things out. You will sort it out. You will. You know things out with Markarney he doubled down. I'm not going to support second pipeline Oil tanker moratorium north coast. [00:47:38] Speaker B: It'S extremely unlikely. [00:48:06] Speaker A: It's not my place. It's very unlikely. KGD pipeline pipeline. [00:49:22] Speaker B: Right so can diversify Agriculture Minister so food products Japan South Korea Malaysia Malaysia. [00:49:49] Speaker A: British Columbia British Columbia public sentiment so Trans Mountain pipeline expansion capacity Pipeline expansion pipeline already 90% capacity Canadian GDP analysts the honor Trans Mountain capacity so a Kadina KG capacity. [00:51:45] Speaker C: It. [00:51:45] Speaker A: Takes years unfortunately west now pipeline minimum Trans Mountain pipeline capacity There is a lot of uptake demand Albertan crude oil bitumen overseas China oil hungry country There's a business case for it British Columbia Alberta pipelines capacity. [00:52:58] Speaker B: Thank you to Adabad News. Thank you so much. [00:53:06] Speaker A: Thank you.