Tuesday, March 18, 2008

75 More

It is indeed 75 more points. That brings the rate down to 2.25%. The bottom is rushing up quite rapidly - Bernanke et al better hope that further stimulus isn't required, because soon there won't be any points to cut.

Interestingly enough, there were two dissents. First time in awhile I've seen two. Both preferred less aggressive action.

Canadian inflation
was only 1.8%, but core actually accelerated, 1.4% to 1.5%. The monthly numbers were startling, too. 0.5% core increase month/month. That's, uh, very high, and would certainly put the brakes on further monetary stimulus, especially since car prices were down substantially on earlier-than-usual seasonal discounts.

At least, it's my opinion that it should certainly temper further rate cuts. I ought to get back to finishing off a full draft of my honours essay.

POSTSCRIPT: In at the doctoral stream MA at Toronto. Solid funding ($16k+tuition/fees), and the graduate coordinator advised me he had a degree of negotiating room. 280 hours of TA, 60 hours of RA. All told, about ten a week. Certainly a superior offer to UBC. Rochester is still leading, though. Now I'm only waiting on Queen's.

UPDATE: Had you listened to me yesterday and bought Canadian banks, you'd be ahead. TD is up 4.5%, BMO 7%.

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