Bank of Nova Scotia BNS

Interest Rates Not Coming Down Any Time Soon Says BOC

[FiddyFiddyShot]

The Bank of Canada on Friday made clear that interest rates were not coming down any time soon, putting it on a divergent path from the U.S. Federal Reserve, which said this week that easing could be on the timetable.

https://ca.finance.yahoo.com/news/bank-canada-diverges-fed-says-183708061.html

[BlackDay1]

They'll lower them if fhey have to - it's never a planned activity - it's reactionary. So what every they say now, is menaingless. If things get ugly economically and if lower rates will help reduce the ugly, they will lower - like they always have. The BOC is a reactionary bunch that only apply the lever after the horse has left the barn - and that means up or down.

[FiddyFiddyShot]

The BOC's comments were meaningful enough to drive down BNS shares nearly 2 % today....

[BlackDay1]

And thart's sad - because they are not meaningful comments. Stating that it is "too ealry" to consider rate cuts is meaningless because no one is expecting rates cuts at this time - and based on how these guys work, they won't know until it's in their face. My comment was more in frusration than anything - I wish these guys woud stick to commenting on what they are doing

[FiddyFiddyShot]

They're all smokin' crack at the BOC. One minute they say one thing, the next day they totally contradict themselves by putting out a bonehead statement as they're shutting off the office lights and heading home for the weekend. They flap their mouth just for the sake of it.   And these are supposed to be the "experts" ?   And of course, BNS shares always