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Email this10:06 am
October 29, 2017
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Dean said
.
Food for thought . . .Today's BNN vid & article ➡ https://www.bnnbloomberg.ca/brace-yourself-top-bay-streeter-sees-giant-boc-rate-hikes-ahead-1.1773651
If he's right (and I think he is), best we Hang On To Our Hats ❗
Dean
And there is that lingering 55% of Canadians with no savings and utilizing nearly all of their income. It’s either going to kick Canadians in the pants to make them live lighter or it’s going to capsize the boat. Interesting times ahead!
10:19 am
January 12, 2019
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Vatox said
And there is that lingering 55% of Canadians with no savings and utilizing nearly all of their income. It’s either going to kick Canadians in the pants to make them live lighter or it’s going to capsize the boat. Interesting times ahead!
Possibly 'Recession' ❓
Time will tell,
- Dean
" Live Long, Healthy ... And Prosper! "
10:47 am
January 12, 2019
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Dean said
.
Food for thought . . .Today's BNN vid & article ➡ https://www.bnnbloomberg.ca/brace-yourself-top-bay-streeter-sees-giant-boc-rate-hikes-ahead-1.1773651
If he's right (and I think he is), best we Hang On To Our Hats ❗
Dean
And there's also this ⬇
If it happens, a BoC rate hike of 0.75% next month would be quite the 'Shocker'. It's never happened before ❗
- Dean
" Live Long, Healthy ... And Prosper! "
11:00 am
February 7, 2019
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Dean said
And there's also this ⬇
If it happens, a BoC rate hike of 0.75% next month would be quite the 'Shocker'. It's never happened before ❗
Dean
.75% would definitely be a cage rattler ...
| CGO |
11:48 am
April 14, 2021
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An original move of 0.75 would have been much more effective in March, than now. Instead, they prolong the pain and shock unnecessarily.
12:18 pm
January 7, 2020
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Chinese water torture, n'est pas?
12:23 pm
February 7, 2019
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HermanH said
An original move of 0.75 would have been much more effective in March, than now. Instead, they prolong the pain and shock unnecessarily.
Even as a member of this forum and a participant in this thread, I am short of many the qualications required to be BoC Chairman. I'm sure that's true for most, if not all, of us... 🙂
| CGO |
7:33 pm
July 5, 2019
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Re: BNN article
"Don't expect the hawkish rhetoric to let up until inflation starts to trend lower. We continue to look for another 50bp hike in July, but there's a risk of a 75bp move if inflation surprises to the high side yet again."
Risk? Seems like a bias towards the concerns of borrowers, not those relying (at least hoping to) on fixed income.
4:08 am
January 9, 2011
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kelbee said
Re: BNN article"Don't expect the hawkish rhetoric to let up until inflation starts to trend lower. We continue to look for another 50bp hike in July, but there's a risk of a 75bp move if inflation surprises to the high side yet again."
Risk? Seems like a bias towards the concerns of borrowers, not those relying (at least hoping to) on fixed income.
Its always been the bias. I don't remember any time when the BoC did specific things the opposite way, focused on helping non borrowers at the expense of borrowers.
But what does "inflation surprises to the high side" mean, in practical terms? Hmm lets see. The target is 2%. Inflation at the last announcement is 6.8%. So if next time its either 3.2%, 4.8%, or 6.8% or more, any of them are way high and means a 75 bp move?
Another thing that was predictable. Banks raise their prime lending rate in concert with the BoC rate. But what's this? Renaissance (CIBC) HISA for use within its investment platform only goes up by 10 bp, from .75 to .85%. I haven't bothered checking but likely the big banks don't raise deposit rates by the same 25 bp for borrowers? Maybe it is time to buy bank shares during a 'correction'.
" We may never pass this way again " - Seals & Crofts
5:13 am
March 30, 2017
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I don’t think savings acct interest rate ever go up 1:1 to bank rate.
Prime rate always does when BoC raises. If FIs raises less, BoC will be hugely upset. On the flip side, when BoC cut, FI can move their rate any amount they want, or there r multiple occasions when they move less than the bank. I remembered not too long BoC was upset about one particular big 5 that cut less and had to match BoC rate the next day or 2. If my memory served me well, BoC did 25, FI only did 10 or 15, and had to up it to 25 after the ‘concern’ by BoC.
Savers (fixed income collectors) may think they are back bone to the economy, but the truth is responsible borrowing (aka reasonable leverage) is the real driver of the economy. Thats why interest rate is a powerful monetary policy.
11:16 am
April 6, 2013
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In April, Globe & Mail columnist Rob Carrick wrote about that 2015 incident:
Bank of Canada cut overnight rate by ¼% in January 2015 and again in July 2015. The banks cut the prime twice by 0.15% for total of 0.3% instead of 0.5%.
The banks haven't transmitted the remaining 0.2% of those 2015 Bank of Canada cuts to the prime rate since.
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