Bank of Canada cuts key interest rate to 1.25%

The Bank of Canada cut its trend-setting overnight lending rate by half a percentage point to 1.25%, citing the coronavirus outbreak as a "significant health threat."

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[Jennyoy]

Canada fails to learn a lesson from the Fed emergency cut yesterday. Rate cut doesn't help in this coronavirus fear environment.

[wiseguy]

Very bad idea, if you cut you won't be able to raise it. Cause people won't be able to service their debt. This will continue destroy the economy because higher prices equal higher rent, and now you will have less money spent on good and services. I geussing they have not noticed that alot of shops and offices suffer from rent and labour costs.


They need to reduce the cost of living to improve the economy. Well soon they might just want to go to negative interest like japan. Also say good bye to your saving inflation is always happy to eat them

[CloudTribe]

If rates go any lower their wont even be anything left to slash. There wont be a reason in keeping my bank account open anymore. Negative interest rates are coming and we might have to move our money soon to a safer place. They did this with no warning.

[TSARMOTAF]

If it trickles down then why is every credit card at every bank like 20% even if you have excellent credit. Get bent.

[loopzs.official]

Bank of Canada set mortgage prime rate for all Bank of Canada (mortgage prime rate 2.45%.) But TD Bank Credit card loan prime rate set for 2.45%.TD bank mortgage prime rate set 2.60%. as they posted TD web page.This not fair for Canadians who own the house and landing money with TD Bank.

[donniemcleod]

Socialization is ok when it's for the banks lol. Central banking is quickly proving itself obsolete.

[erikaarae]

anyone feeling déjà vu here? everyone borrow borrow borrow!

[Brian-cxnp]

I ran out and bought 200 $ of Toilet Paper at IGA 🧻
Had to go back twice just to fit it inside my car 🚙

[Johns]

So does this mean houses are getting cheaper

[lindsaydannah]

Thanks a lot. It’s not like my student loans are high enough... Now the rate is about 4%.

[dback]

Government controlled media finally letting

[gregorygray]

Heading for .5 overall rate by end of year.

[Brian-uyiw]

Time to borrow and spend it on real estate then sell at 2x the price 2-3 yrs later. Rinse and repeat.

[pjmac]

Who are they borrowing from. Can’t we see this is all a sham, a facade, a manufactured problem cause and solution.

[johnbeechy]

this will not affect Fixed rated debt and bearing Notes... although any Rate cut will Lower all Long term National debt because the interest paid out is based upon the interest rates... following the USA, its ok.. its not like we have USA companies buy backing in Canada. CDN companies cant Buy back stock and hold it. // that being said, ONLY a fool goes out shopping while there is a Q time for many folks lowering interest rates will nor should it Give Courage to folks to spend time out side when and while there is weather with more ups and downs that usually lead to colds and flus, let alone a C virus.... savers can score the CDN 2 percent return in their Non taxed accounts, so should not affect the savers that can use that legal space for lower taxes on interest bearing income // If u want to borrow, this rate might not reach u as per the bank act that ONLY banks can lend to folks whereas the C Bank can lend to the banks/

[lillianelliott]

This is very serious many people are dying. It is all in your Bible Matthew 24. Jesus said, I am the Way, the truth, and the life, no man cometh unto the Father but by me. John 14:6 Pray Ask Jesus to save you. To come into your heart, to forgive you of your sins in Jesus name. Read your Bible tell others how to have eternal life.

[joeschmolarry]

So what a jug lf milk will cost 7$ now?

[dayspoiler]

down to .5 here in aus. things are bad