[chemgear]

Originally Posted by FLAMESRULE

And the Bank of Canada just cut interest rates by 0.2% to 0.75% in a pretty unexpected move. Yay for cheaper mortgage/HELOC/LOC etc...

http://www.bnn.ca/News/2015/1/21/Loo...c-outlook.aspx

http://www.theglobeandmail.com/repor...ticle22548417/

And boo for a 80 cent dollar.

I look forward to further increased borrowing by Canadians and the extension of car loans to 10 year terms.

EDIT:

From the Globe article:

The rate move, which few analysts anticipated, is an attempt by Mr. Poloz to shield highly indebted Canadian households from an oil-induced hit to their jobs and incomes – signs of which are already evident in Alberta.

(Let's lower rates and let them borrow even more!)