Bank of Canada Rate Hike

[errolanderson]

The Bank of Canada hiked their key lending rate a further 1/4% to 1% this morning. To us, both a surprise and a disappointing economic move by the BOC. Technically, the Cdn dollar may now be on a mission to race toward 83 cents U.S. To us, this rate hike may slow Canada's economy heading into the 4th quarter.

ProMarket Wire, Calgary

[bucket]

Maybe I am wrong but doesn't a higher dollar hurt our exports of almost everything.....and considering we are only a nation of 30 million....that depends on exports... it's a rather stupid move....

[Oliver88]

Errol is the idea to "cool" housing prices or give people a wake up on debt levels?

[fjlip]

Maybe I am wrong but doesn't a higher dollar hurt our exports of almost everything.....and considering we are only a nation of 30 million....that depends on exports... it's a rather stupid move....

Just another STUPID move among STUPID moves Liberals make every f*cking minute!

[the big wheel]

It will destroy us we need a conservative
Gov to slow the economy

[errolanderson]

Oliver . . . In my view, two cities do not make up a country. The Feds should worry about record consumer debt as well as their own out-of-control debt levels. This rate hike was rushed (IMO).

[Oliver88]

Oliver . . . In my view, two cities do not make up a country. The Feds should worry about record consumer debt as well as their own out-of-control debt levels. This rate hike was rushed (IMO).

Good points.

When you listen to our media you would think Toronto and Vancouver housing is the only housing in Canada though.

[sumdumguy]

1/4 of a percent - big deal. Do you really think that little bump is going to deter the house buyers? I can't say - maybe it will but the 83 cent dollar will affect our exports for sure.

[errolanderson]

1/4 of a percent - big deal. Do you really think that little bump is going to deter the house buyers? I can't say - maybe it will but the 83 cent dollar will affect our exports for sure.

Realize today's 1/4% hike sounds like no big deal, but there have now been two (2) rate hikes recently totalling 1/2%. Consumers are now under huge debt pressure with many living paycheck-to-paycheck. This recent 1/2% increase has a sizeable impact on those caught in the debt squeeze (IMO).

Calgary real estate values are definitely in-decline right now . . . .

[bucket]

Apparently things are not bad enough if evraz employees can afford to strike....hasn't been labour unrest there for quite some time.....

[farmaholic]

A half of one percent(total increase so far) interest rate increase on a 3.5% mortgage is a bigger deal that a half a percent on a 7% mortgage. What is it?...14% versus 7% more....floating ratees will feel it sooner, fixed rates will feel it upon renewal. 14% is substantial...when will the payments become to hard to make? Solution: re-amortize...add another 5 or 10 years on and reduce the payments.

[ajl]

Rates should never have been as low as they were with all the debt out there. In a free market supply and demand for credit would determine rate rather than central bank money printing which produced the asset price bubble everywhere economy. What good will suppressing rates even longer do? Have to get rid of all the excess cheap debt has got us sometime. Might as well get it on.

[farmaholic]

....hold on?

.....and remember! Farm land doesn't go down! Buy now before it goes up again. I've been wrong for three to five years already!

[Guest]

....hold on?

.....and remember! Farm land doesn't go down! Buy now before it goes up again. I've been wrong for three to five years already!

Be patient , it will . Purchase price doesnt work anymore with these prices

[errolanderson]

Loonie is a roarin today . . . . At this rate, spot dollar might be at 83 cents by tomorrow.

Canada's economy is in for a quick, swift fall /winter slowdown (IMO). Good grief . . . .