Posthaste: Canada's interest rates could fall more than many on Bay Street think [Financial Post (Toronto, Ontario, Canada)]
Royal Bank Of Canada (RY)
Last royal bank of canada earnings: 2/21 06:00 am
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Source: Financial Post
A couple of well-known economists are predicting the Bank of Canada will end up cutting interest rates lower than many have forecast as weakness in the economy continues to accumulate. Wednesday's jumbo-sized 50-basis-point cut left the central bank's benchmark lending rate at 3.75 per cent, still well above the 2.25 per cent to 3.25 per cent range for its neutral rate, which is where the cost to borrow neither speeds up nor slows down the economy. But with the economy shooting off troubling flares in different areas, economists at Rosenberg Research & Associates Inc. and Royal Bank of Canada are calling for interest rates to fall to two per cent or even lower by the middle of next year as policymakers respond to those emergency signals. “A policy rate above the neutral rate is totally incongruent for an economy in a state of lingering excess supply,” David Rosenberg , founder of Rosenberg Research , said in a note on the Bank of Canada's rate cut. “Such a condition augurs fo
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