The Bank of Canada nudged up its trendsetting overnight rate by one-quarter of a percentage point Tuesday and said it’s in no hurry to raise rates further because of global economic uncertainties. It’s quite the soothing message for people who are up to their eyeballs in debt, and it should be ignored.
There may not be a staccato burst of rate increases in the months ahead, but higher rates are coming. The question is when, not if.
Source: Rob Carrick
Globe And Mail, Globe Investor
Published on Tuesday, Jun. 01, 2010 10:04AM EDT
Last updated on Tuesday, Jun. 01, 2010 10:06AM EDT
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