2008 Interest Rate Outlook. What Do The Experts Say?

It seems there are a lot of opinions of what 2008 will bring about for Canadians.  How will the Canadian dollar be affected? Where will gas prices go?  Will 2008 be a good year for the stock market, and equally as important, how kind will 2008 be to interest rates?

Madhavi Acharya-Tom Yew, A Business Reporter For The Toronto Star, asked three economists for their outlooks for 2008 on oil prices, the Canadian dollar, the S&P/TSX composite index, and whether the Bank of Canada will raise or lower interest rates.

The Toronto Star Reports: “The Bank of Canada, worried that a surging Alberta economy would boil over, raised the key overnight bank rate by 25 basis points to 4.50 per cent in July. It then cut the rate back to 4.25 per cent in December, much to the relief of exporters and manufacturers in Ontario and Quebec who have been broadsided by the loonie’s rise.”

So what does that mean for interest rates for 2008? 

You can read the expert’s opinions and the entire article at http://www.thestar.com/Business/article/290123

And if you’d like to leave YOUR opinion about the article or what you think 2008 will bring, just post below!  I’d love to know!
 

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