Quote:
Originally Posted by KinAlberta
They’ve kept rates so low that there’s not much room for rate cuts to do very much.
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That really is the issue. There had been room the last few years to start raising rates but due to politics that never happened. Now this. Dropping interest rates from a historically low level to a little bit lower isn't going to do a whole hell of lot. The fact is a good chunk of the world is quarantined in some way and spending money is the last thing on their mind. People have to go out to get groceries, but they aren't going out any more than they need to. The number of people traveling is dropping like a rock; same with people eating out in restaurants. Every week/month this continues is going to add to the number of people involved.