December 12, 2008
February 3, 2009
I've said it before---any rate above zero can go lower. Rejoice in the fact that the interest income you've given up since Sep 2007, the start of this rate-cutting cycle, is for the worthy cause of economic stimulus (other people can borrow for less). The BoC has hinted that interest rates won't go up this year or the next. Japanese banks have maintained interest rates near zero for years, and Canadian banks are likely to do the same.