BoC interest Rate | General financial discussion | Discussion forum

Winnie said
Next time (October 30), after election, it will go down, guaranteed.  

My guess is they don’t want to be seen as interfering with an upcoming election. Secondly, depending on what happens with global economies it will be hard to be an attractive stimulus economy when your rate is an outlier to other nations and as a result strengthened the cdn dollar. Most countries are lowering rates. I know the current economic picture is better in Canada but they will likely cave to the global pressure soon. Just my 2 cents.

They didn't raise the rate this time because they had no good reason to do so AT THIS TIME. I don't think it has anything to do with the election.

Oct 30 is anybody's guess. There's a lot of things happening between now and then, and they could all have impact - tariff wars, election, Brexit, October itself as an often-problematic month for markets, hurricane season, whatever.

As for the election, I find none of the leaders particularly attractive, but will vote for a local candidate whom I like.

Much as I would like to see them improve, there is a lot more at stake in this election than the returns on our GICs or even the economy more generally.

If we don't make some very serious changes in the immediate future, climate change is going to doom us all, including children and grandchildren. It's the biggest crisis that has ever faced humanity and probably ever will, but most countries are twiddling their thumbs.

It may cost us all to fix it. We can't afford not to. If we stick to a narrow view of self-interest and the preservation of our own wealth alone, we've had the biscuit. I'm glad I don't have children. I'll likely be dead before the worst of it hits, but I still look for individual candidates who will address the problem honestly and have the guts to deal with it, above all other considerations.

Nero fiddled while Rome burned etc etc.

Vatox said

Agreed, but self interest is what modern society is. No politician is going to compromise their own paycheque. It will get a lot worse before anything is done. they won’t compromise the economy until it’s a do or die situation.  

I did specify "narrow" self interest. We need a broader recognition of self-interest , to include basic survival.
It already is "a lot worse" than perhaps most people recognize. It already is "do or die". This election is absolutely critical. If nothing significant happens in the next four years, we've had it.
Unfortunately, politicians tend to follow, not lead, public sentiment,

But I agree that a narrow sense of self-interest is likely to prevail, and will be the death of us. We're a long way from that standard.

We may be small compared to the rest of the world, but we put out more than our share of crap. Every country has to do whatever it can, and show the others the way.

And, yes, Kid,d, we may need a Hong Kong style protest to make anything happen.

Today's extreme weather events are the result of yesteryear's inaction.

Kidd said
ADDED edit
Carbon tax is not the way to fix anything. Carbon tax only accomplishes two things, it makes me/us poorer and it gives the government of canada more money to waste. That's it folks, that's ALL it accomplishes. Don't let a liberal tell you otherwise.

Why is it never mentioned when one rants about the carbon tax that me/us get a rebate on our taxes at the end of the year. This rebate negates the effect moneywise on most of me/us regular citizens.

Thus it would only really hurt you if you don't file your income tax.