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BoC cuts rates by another .50%
March 15, 2020
3:41 pm
Vatox
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That could mean we get a 50bps cut.

March 15, 2020
3:59 pm
Doug
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ReX said

BoC has yet to follow...and they will probably have no choice but to react as soon as $CAD takes a dive.  

They don't necessarily need to follow on the same day; however, I would be very surprised if by April 15th, BoC Policy Interest Rate is not at either 0.25% or 0%.

Note on Friday, when they last cut, the OSFI chief freed up banks' reserves for lending (i.e., requiring them to hold less capital) to lend. There's no indication they've taken up that offer, but time will tell in the coming weeks if the banks launch aggressive lending campaigns and sub 2.00% mortgage promotions. I hope @Shawguy doesn't take that offer; mortgage rates are headed lower, much lower, and deposit rates equally, or more, so.

Cheers,
Doug

March 15, 2020
4:39 pm
Loonie
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Thanks for that info, Doug. I had missed that. It's a dangerous sign, however.

March 15, 2020
7:39 pm
ReX
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Doug said

They don't necessarily need to follow on the same day; however, I would be very surprised if by April 15th, BoC Policy Interest Rate is not at either 0.25% or 0%.
Doug  

Same day does not exist....actually it has already passed at the time when you posted this reply (nice piggybacking)...BoC thrives on being reactionary and sitting on the fence... about 50bps hedging...never mind analyzing the purse....when we hit .65, which is going to be very fast...sh*t will hit the fan...and I so called it...and watch them to be cavalier now regardless to any established schedule dates...

///ain't internet wonderful...some folks with all the time to spare and to boost their ego are now PHds at many internet fora...just a digression in general.

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