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Old 07-15-2015, 08:55 AM   #1
Slava
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Default Bank of Canada cuts rates

The Bank of Canada cut the overnight rate to 0.50% this morning. http://business.financialpost.com/ne...-rate-decision


This article was from prior to the cut wherein they suggest the banks are unlikely to follow (and like I've posted before I'm quite sure that isn't the intention of the central bank!) http://www.theglobeandmail.com/repor...ticle25498289/

And finally here is a video on what it could mean for you: http://business.financialpost.com/ne...for-homeowners
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Old 07-15-2015, 01:08 PM   #2
codfather
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As mentioned in the Mortgage. Made Easy. sub-forum, TD has graciously dropped their rate by 0.1%. This is the 0.1% they and the other banks did not pass along during the last Bank of Canada rate cut. The banks have now essentially delayed passing along one cut while keeping the other entirely. I will not be the least bit surprised to see the banks keep pace when the rate starts increasing...
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Old 07-15-2015, 01:32 PM   #3
Slava
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Quote:
Originally Posted by codfather View Post
As mentioned in the Mortgage. Made Easy. sub-forum, TD has graciously dropped their rate by 0.1%. This is the 0.1% they and the other banks did not pass along during the last Bank of Canada rate cut. The banks have now essentially delayed passing along one cut while keeping the other entirely. I will not be the least bit surprised to see the banks keep pace when the rate starts increasing...
Yeah and like I mentioned the BoC cannot be thrilled about that. I don't think that the intention here is to make sure that the banks increase their profit by 0.25%.
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Old 07-15-2015, 06:24 PM   #4
stampsx2
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Should be illegal for the banks to not follow boc rate cuts if the intention is to help stimulate the economy.
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