Robert Klein Newsletter - April 2024/Edition 143

Robert Klein - Mortgage & Life Insurance Broker

robert@robertklein.ca
778 896 6732
http://www.robertklein.ca

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April 2024 Foreclosures

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Bank of Canada holds key interest rate at 5%, says things moving in right direction

The Bank of Canada has held its key interest rate at five per cent for the sixth consecutive time since July, saying it will look for signs that slowing inflation is sustained before moving on rate cuts.

The central bank said that inflation is still too high, but noted that core inflation measures — which strip out volatile sectors like food and energy — have trended downward in recent months.

"I realize that what most Canadians want to know is when we will lower our policy interest rate. What do we need to see to be convinced it's time to cut?" Bank of Canada governor Tiff Macklem said during a news conference following the announcement.

"The short answer is we are seeing what we need to see, but we need to see it for longer to be confident that progress toward price stability will be sustained. The further decline we've seen in core inflation is very recent. We need to be assured this is not just a temporary dip."

Macklem said that a rate cut in June is "within the realm of possibilities."

While inflation cooled to 2.8 per cent in February, with price growth slowing across goods, food, clothing and services, high rent and mortgage interest costs continue to drive up the overall inflation rate.

The bank expects inflation will move closer to its two per cent target this year, and that it will reach it in 2025. The bank also expects solid GDP growth this year and in 2025, due to population growth and increased household spending.

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Robert Wins Gold at Chess Tournament!

Robert loves playing chess and is part of the chess team at his school. Last month, he participated in his first chess tournament, which attracted kids from all over the Cowichan Valley. He won gold!

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Robert and Sarah Spend $30 Bucks to Win $3 Bucks Worth of Toys

They were so happy to win. These toys will now join the rest of the toys that are not played with. :)

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Do Most Businesses Have an Optimized Corporate Structure?

No, not even close.

The problem is that these industries are not linked together:

Accountant
Lawyer
Mortgage broker
Commercial mortgage broker
Insurance advisor
Financial advisor
Realtor
Commercial Realtor
Etc.

Relative to your financial position, however, they are all connected.

By accident, over the last 15 years, I figured out how to connect these dots and created a framework that solves it.

Watch the video: https://www.youtube.com/watch?v=vLnvFETkiA4

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