My home is mortgage free but I know friends and colleges that are still under the burden of huge mortgages. My Canadian banks made a pretty good profit again this year but I wouldn't expect them to pass the rate reduction to mortgage holders. I'm currently offered a pittance of 1.8% on my 30 to 365 day GICs for my Emergency Reserve cash.
While a rate cut might be beneficial to business, I'm not looking forward to the higher Inflation.
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