The Daily Chase: Canadian banks near bear market; BoC has trust issues
BNN Bloomberg
Remember when Steve Eisman (of The Big Short fame) said he was shorting some of Canada’s banks?
ALMOST HALF OF CANADIANS LOST FAITH IN BANK OF CANADA: SURVEY
Another day, another survey demonstrating the financial pain that so many Canadians are feeling. Forty-five per cent of respondents to an Angus Reid Institute survey that was conducted earlier this month said they're worse off financially than a year ago, compared to 39 per cent in the first quarter of this year. The survey suggests the skyrocketing cost of living is taking a toll on Canadians' confidence in the Bank of Canada: 41 per cent of respondents said they don't trust the central bank to fulfill its mandate of keeping inflation around two per cent. Respondents' political stripes play an important role in sentiment on that front: 59 per cent who said they voted for the Conservative Party of Canada in last year's election said they don't trust the BoC. Shachi Kurl joins us shortly after 9:00 a.m. to discuss the findings.
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