Friday, March 10, 2006

Did this blog Influence the Bank of Canada?

Did this blog influence the Bank of Canada? Probably not. I doubt that anyone from the Bank of Canada is among the handful of people that read this page each day.

Still, I think it's interesting to note that after the Bank of Canada's January rate announcement, I argued that it was time for the bank to stop raising interest rates. On the Bank's next interest rate announcement, the bank signalled that interest rates will not necessarily continue to increase. The effect was immediate and the Canadian Dollar fell after the announcement. This is good news for Canadian companies that compete internationally, and exactly what I argued for.

Just remember you read it here first. Hopefully the rest of the world will follow in the Bank's footsteps and act on my recommendations!

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