Bank of Canada set to cut interest rates

[Canadian]

The Bank of Canada is set to cut interest rates again tomorrow, to a new all- time low! Most analysts expect a 0.5% cut, which will bring the rate to the laughable 0.5%. Once this happens the rates can only go up, and when they do all overleveraged debtors will have a hard time servicing their debt.

[trent]

Well they did, but so what? This will not fix anything. It may be able to lure some more idiots in the overpriced housing markets, who will mass-default once the interest rates start rising rapidly.

[bullish]

This is exactly what we need to get the economy and credit going again!

[trent]

Originally Posted by bullish

This is exactly what we need to get the economy and credit going again!

No, what we need to recover from this crisis is savings. Throwing more credit at a problem created by too much credit won't help.

[Canadian]

Originally Posted by bullish

This is exactly what we need to get the economy and credit going again!

Please stop wasting everybody's time with your useless comments. The interest rates can go only one way from here in that is UP! This will happen sooner than most people think, simply because of the out of control money printing employed by central banks.

[bullish]

Originally Posted by Canadian

Please stop wasting everybody's time with your useless comments. The interest rates can go only one way from here in that is UP! This will happen sooner than most people think, simply because of the out of control money printing employed by central banks.

The fact that interest rates can go only up from here, doesn't mean that they will anytime soon, not until the economy rebounds substantially again.

[Canadian]

Originally Posted by bullish

The fact that interest rates can go only up from here, doesn't mean that they will anytime soon, not until the economy rebounds substantially again.

The rates are going up much sooner. If you don't understand why I'll explain it to you. Because of the uncontrolled money-printing, money will rapidly lose value, which in turn will force lending rates higher because the lenders will want to be compensated for the currency devaluing and still make profit.