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House Hansard - 198

44th Parl. 1st Sess.
May 16, 2023 10:00AM
Context: House Hansard - 198 - May/16/23
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • May/16/23 2:22:58 p.m.
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Mr. Speaker, yet again, despite the best efforts, which actually are not that good, of the Conservatives to mislead Canadians, the Canadian economy is strong. We have the strongest fiscal position in the G7, and our AAA credit rating was reaffirmed after I tabled the budget. On inflation, I know that the party opposite does not really know too much about the Bank of Canada, but the Bank of Canada follows CPI-trim and CPI-median; those are the core indicators. CPI-median and CPI-trim went down between March and April.
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Context: House Hansard - 198 - May/16/23
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • May/16/23 2:24:23 p.m.
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Mr. Speaker, I have another request: Would that ex-minister stop leading Canadians astray, urging them, recklessly, to invest in crypto? That is an area where we actually really do disagree. I want to talk about the core inflationary measures that the Bank of Canada follows, which determine the path of interest rates. One of them is CPI-trim. CPI-trim peaked at 5.6% in June of last year. It was 4.4% in March, and fell to—
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Context: House Hansard - 198 - May/16/23
Hon. Pierre Poilievre (Leader of the Opposition, CPC)
  • May/16/23 2:25:05 p.m.
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Mr. Speaker, actually, the Governor of the Bank of Canada said that his measure of inflation is CPI. CPI is up today, even though she said it would be down. It is up, interestingly, after the $60 billion in new spending that she brought in her budget. What is up the most, though, is mortgage payments, and she can tell us why, because she admitted that deficits “make inflation worse and force rates higher for longer.” They force rates higher for longer, and that is why Canadians are paying 28% more in mortgage payments. Will she get off the backs of Canadian homebuyers so they can put a roof over their head?
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Context: House Hansard - 198 - May/16/23
Hon. Chrystia Freeland (Deputy Prime Minister and Minister of Finance, Lib.)
  • May/16/23 2:25:49 p.m.
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Mr. Speaker, Canadians know better than to listen to the Leader of the Opposition when it comes to money, because he did, after all, urge them to invest in crypto. They know better than to rely on the Leader of the Opposition when it comes to the Bank of Canada, because his answer is to fire the independent Governor of the Bank of Canada. What the Bank of Canada looks at is CPI-trim and CPI-median. CPI-median peaked at 5.2% in June. It was 4.5% in March and went down to 4.2% in April.
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