Blogs & Comment

Oh that again…

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?