Canada shocked by Bank of Canada Rate Cut

Bank of Canada Governor Poloz speaks during a news conference in Ottawa
Quarter point cut today means rate moves from 1% to .75% … “insurance” against the potentially negative effects of falling oil prices.

POSITIVE:If your mortgage is up for renewal you may want to consider going open vs closed as it looks as if lower interest rates are here to stay for quite some time…

NEGATIVE: Canadian dollar slides below 81 cents US.

See link below for details…

http://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-rate-cut/article22548417/