Bank of Canada delivers big rate cut: What it means for consumers

The Bank of Canada cut its key lending rate Wednesday by a 50 basis points. Mike Le Couteur has more on what it means for consumers.

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[Osprey-ol]

Relief? Consumer spending is at an all time low. Borrowing money to buy food is a poor option.

[frankd]

No matter what happens the Finance Minister will say everything is hunky dory. When the stock market makes a huge correction she will find a way to put a positive spin on it.

[ronstephen]

It means your savings are worth less as the inflated cost of living takes away more than the interest pays.

[Schroefdoppie]

I won't breathe a sigh of relief until the priktator is gone, and the conservatives can start the long, hard task of fixing Canada.

[ermagerd]

So they want to lend out some cheaper money so Canadians can dig themselves into an even bigger household debt for themselves. This probably wont end well.

[MikeSmith-voyt]

Interest on the national debt is the Canadian taxpayers single largest expenditure. That’s dead money for the next thousand years or so

[trivialgravitas]

Canada is cooked. This will only be short term at best.

[Dan-kwf]

Zero growth all year like a recession already .Mismanagement one o one

[kandym]

Okay prices not going up but when will they come