Bank Of Canada

maintains interest rate at 0.5 per cent

what does that mean to the rest of us?

nothing good for sure.  they are not there to operate in the peoples interest.

and I see allyuh Trudea bwoy morphing rather quickly into his real reactionary self. ::LOL:: ::LOL:: ::LOL::

allyuh pay attention.  he is slippery, dangerous and anti democracy at the end of the day

it means nothing for the consumer except a savings account gets you no interest at all

IT signals confidence in the Market place.

It generates consumer confidence in purchasing Homes (largest investment of our good Citizens)

and ripple effects to Furniture and other Manufacturing sector (appliances, blinds et cetera)

It stimulates Employment and supported by the LOW dollar :

Increases Exports.

Economics 101

Nargis , the down side is IF there is a sudden need to CURB consumer spending

That is , household debt load is staggering :

People using LOW interest rate : "TO Live above dem Means"

then we have bankruptcies and into a  Recession ....


I am asking the Bank of Canada to increase overnight lending rates

so far only Royal Bank seem to have the balls to do it !  :-[

i see

[quote author=~Nargis~ link=topic=102232.msg674631#msg674631 date=1453314135]
i see
[/quote]

You just experienced it , right ? Bought  a Home

well that generated employment to make the wukkbench Matress ,the Pots and pans ,

the bath linens , cutlery , lamps , a TV 


just dont run up the store credit cards at 19 %

use the lowest charge card rate !

It means that the banks are finally being honest about how much they're ripping off the savings accounts methinks. They get thousands to millions wired to them from all over the place and make thousands to millions on the interest, while they only pay out half of 1%. That's the epitome of "taking it to the bank".

@ketchim....not really.


we are not living above our means.  My husband is very money concious about how we spend and where and for how much.


i also believe money is not meant to sit in the bank forever...we do at some point have spend.


we are now on the saving part...banking money away for a rainy day....paying off our honeymoon expenditures and setting up for this year.

also we didnt purchase a place we couldnt afford on 1 salary....


we made sure that one of our salaries could cover the expenses. 


we didnt want to live hand to mouth....we just wanted to be comfy enough...  :-[ 


Alhumdulilah.