Happy Monday Morning! As expected, the Bank of Canada held rates firm last week, pushing back on a growing chorus of market pundits calling for rate cuts. "The assessment of the governing council is that we need to give higher interest rates more time to do their work.”
Our society is paying for fifteen years of monetary abuse by central banks around the world where prime rates were held below inflation.
This situation can only be rectified by a major correction in asset values. The current market is preparing for this.
Thanks Steve.