Quote:
Originally Posted by Slava
Why do you think that? I'm sure that if the BOC cuts another 1/2 point than the banks drop at least another quarter, of not matching the cut entirely.
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Because the banks have already publicly p*ssed & moaned about how their profits are unsustainable with the low rates (they started doing this when the BOC did one of their first major cuts in October). Remember when TD first said they weren't gonna match the full cut and only relented to the media pressure after a week?
Personally my LOC's at prime so I want another cut as bad as the rest of you, but I just don't see it happening. 3% is practically free money, cut it to 2.5% I'd probably jizz in my pants, to borrow from the other thread. lol.