Quote:
Originally Posted by bdub
Bank of Canada surprised with an end to its quantitative easing program today but left the benchmark rate at 0.25%. Signal from them is to start raising rates starting next year, perhaps three times. Instant pop in the CAD$. They are getting worried about inflation.
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Yeah, I'm watching Tiff now. Don't anybody worry, it's all gonna be ok, he said so. Vaccine is gonna save us, inflation is still transitory, they can and will keep inflation under control, blah blah blah.
They have started shuffling the deck chairs on the Titanic. But, look at that view! And just listen to that band play!
People with variable rate mortgages better start getting ready for a surprise. Several good sources are expecting a full 200 basis point increase in the next 8 quarters or sooner.
As for seniors on fixed income, oh boy. That is going to be a disaster.