Comments on: Bank of Canada Waited Too Long, Expect MUCH Higher Interest Rates: Scotiabank https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/ Canada’s Fastest Growing Real Estate News Source Mon, 21 Mar 2022 17:20:46 +0000 hourly 1 By: Ron Jeremy https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81694 Mon, 21 Mar 2022 17:20:46 +0000 https://betterdwelling.com/?p=19937#comment-81694 In reply to Average Man.

Uhh, no, you will not see a meaningful savings account interest rate because Canada did away with reserve restrictions a couple/few decades ago. This means the banks no longer need your cash because they can digitally print $$$ as they please.

]]> By: Ron Jeremy https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81693 Mon, 21 Mar 2022 17:14:02 +0000 https://betterdwelling.com/?p=19937#comment-81693 In reply to GTA Landlord.

Why preserve home prices? Why not just let home prices remain stagnate? The ‘forever increasing home price’ is a relatively new scam required for the ‘inflationary economies’ of western nations to function.

]]> By: John https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81453 Wed, 16 Mar 2022 12:47:19 +0000 https://betterdwelling.com/?p=19937#comment-81453 The BOC is doing what the Liberal government is pressuring it to do .. keep interest rates low. And by doing so they are knowingly inflating away their massive debt on the backs of the elderly and those without pensions indexed to inflation .. mostly elderly private sector retirees. Absolutely shameful! This is why the BOC has fallen so far behind in raising interest rates, which, based on historical actions to deal with inflation, should already be 3%. The Bank of Nova Scotia is right, the BOC is way too late in raising interest rates.

]]> By: Patiently Waiting https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81451 Wed, 16 Mar 2022 12:35:58 +0000 https://betterdwelling.com/?p=19937#comment-81451 In reply to Scott.

And still he was re-elected. Unbelievable!

]]> By: FlipG https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81439 Wed, 16 Mar 2022 02:57:05 +0000 https://betterdwelling.com/?p=19937#comment-81439 In reply to Average Man.

Average Man I second your emotion.

Most Canadians who own homes bought them in the good old days when a home was something you lived in; not a skanky over-blown investment subsidized by renters and corrupt vote buying Politicians.

]]> By: Average Man https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81425 Tue, 15 Mar 2022 19:21:13 +0000 https://betterdwelling.com/?p=19937#comment-81425 As someone who missed the boat on buying a home, but now has zero debt, good. SEND THOSE RATES TO THE SKY! THE… SKY. Make savings accounts worth something again.

]]> By: Helena https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81424 Tue, 15 Mar 2022 19:18:05 +0000 https://betterdwelling.com/?p=19937#comment-81424 In reply to Ron Bruce.

I feel sorry for new house buyers…

]]> By: Scott https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81415 Tue, 15 Mar 2022 17:18:23 +0000 https://betterdwelling.com/?p=19937#comment-81415 “You’ll forgive me if I don’t think about monetary policy, I think about families.”

]]> By: Marc https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81414 Tue, 15 Mar 2022 17:17:06 +0000 https://betterdwelling.com/?p=19937#comment-81414 In reply to razz.

There’s three key rates: overnight; bank; and deposit. The overnight is the one used for loan interest, and the deposit rate happens to be the same. It isn’t always the same though, so that’s why they’re differentiated. More prudently managed economies would manipulate the three independently to achieve a desired outcome.

]]> By: Julian https://betterdwelling.com/bank-of-canada-waited-too-long-expect-much-higher-interest-rates-scotiabank/#comment-81412 Tue, 15 Mar 2022 17:07:23 +0000 https://betterdwelling.com/?p=19937#comment-81412 In reply to Ron Bruce.

Hahaha. If the BoC raises rates 2.75% the economy will implode, my bet would be a full blown depression. Of course they’d never go that far and just live with inflation when stagflation begins to settle in. What are these bankers smoking? The number of reason I could rattle off why this is terrible idea, could fill the Sky Dome. I recently saw an article of what interest rate rises a series of economists expected, average was below 1.0%.

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