Today, the Bank of Canada announced it was keeping the target short-term interest rate steady at 1%. This was not a surprising announcement. The big concern on the minds of the bank is the escalation of household credit. It will blow up eventually (especially whenever interest rates rise again) but in the meantime, conditions continue to be very ripe for future borrowing.
I guess the financial tip of the day is to make sure to start deleveraging before everybody else does!
|Month / Strike||Bid price||Ask price||Settl. price||Net change||Open int.||Vol.|
|Open interest: 651,369||Volume: 128,687|
BAX Futures state that rates are not going to rise again for the remainder of 2013, and there is the expectation of a chance (but not certainty by any means) of a quarter-point hike around March 2015.