Bank of Canada, September 2008, announced no changes in their overnight rates, which stands to reason. The exact reason given was:
OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 1/4 per cent.
The three global developments highlighted in the July Monetary Policy Report Update continue to have a major influence on the Canadian economy. Two of them – the course of the U.S. economy and the ongoing turbulence in global financial markets – have evolved broadly in line with the Bank’s expectations. However, there is an increased risk of a more pronounced interplay between weakness in the U.S. economy and tightness in credit conditions that could affect the U.S. outlook for 2009.
Good to know my debt payments aren’t going up shortly.
Gas Prices
An analyst yesterday predicted that Gasoline prices in Canada would hover near $1.00 per liter by Christmas. This would make for a very interesting turn of events. Would other prices drop? Would deflation kick in? I doubt it. Everyone will simply build that into their profit margins again, but still, not having to spend $160 to pick up my daughter from Waterloo would be nice.
Carnivals
My article Sunday Thought: Debt is Bad in the Bible Too? posted at Canadian Personal Finance Blog was mentioned at Just Another Day of Catholic Pondering in the Catholic Carnival #188: Journey of Faith
Interest Rates in 2008
- January 2009 rates were at 1%, money was effectively free.
- October 2008 rates continued to fall, but did we plan accordingly? No, we spent more.
- September 2008 the rates again remained unchanged.
- July 2008 and the rates remained the same.
- June 2008 the rate was 2.75% overnight. Seemed low even then.
- April 2008 another massive rate cut, where could this all lead?
- March 2008 the rates just kept falling, I wonder why?
- December 2007 is when the Christmas presents, like interest rates, kept falling.
I’ve just started using Chrome myself and I would say that the memory usage is impressive.
Hi CM,
Thanks for the quick review of Chrome. I decided to check it out, and it is quick. It does seem pretty good on the system resources too. Too bad it doesn’t support RSS feeds at the current time. I may have to find an alternate way of subscribing.