From Canadian Business Online Blog, Oct 08, 2008
By: Joe Chidley
Re the coordinated rate 50 basis-point rate cuts by central banks this morning, including Canada’s. Far be it from me to criticize central bankers, but my first response was “Holy Moley” and the second was “Oh that again…” Seems to me they have admitted that the situation is dire by acting in such an unprecedented manner, but then done not enough when they had lots more room to cut.
Sideways market reaction suggests expectations of more rate cuts ahead.
I guess that’s good news?
One Response to “ Oh that again… ”
I hold Money Market funds with London Life.. Will my initial investment (less interest earned) be covered by the $60,000 insurance coverage? I am 64 and need the money and am thinking about converting it to RBC GIC’s if it is not covered… What to do??? Big question… are Money Market funds vunerable to loss at this time? Can you help me, Mary
By mary leblanc on Oct 9, 2008