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Wealth Professional | 12 Jul 2017, 08:15 AM Agree 0
Although the BoC’s decision to hike rates today comes as no surprise, the move does mark a sea change in attitude
  • ATUL PRAKASH | 27 Jan 2018, 09:46 AM Agree 0
    It is amazing to see that the Bank of Canada's control over the over night call rates, has virtually little effect on the 6 Schedule one Banks in Canada. If the Banks were not borrowing money from the Bank of Canada, then I could agree with their setting the amazingly high Prime Rates in their fiefdom. However, no Bank is an Island and does not exist to serve loans & Service Debt for it's own consumption.

    The way the Banks gouge customers in Canada is a classic example of how to swindle the economy in a Closed Economy.
    This is certainly like the wild west. Who makes the rules, the 6 Scheduled Banks do. The Bank of Canada simply follows their actions to most degrees! This is a serious question of effectiveness of the Central Bank of Canada's policies and their trickle down theory of the price to borrow. If 73 % of all Canadians own Residential Houses / Real Estate, you can only imagine how much Principal & Interest costs they bear on their shoulders on a day to day basis. While the Banks certainly guffaw all the way to their vaults!
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