rmorelan Posted January 21, 2015 Report Share Posted January 21, 2015 While falling oil isn't great for Canada in general looks like there will be a small loc rate drop! Did not see that coming! Link to comment Share on other sites More sharing options...
ellorie Posted January 21, 2015 Report Share Posted January 21, 2015 Very exciting! Just in time to start residency Link to comment Share on other sites More sharing options...
osteogeek Posted January 21, 2015 Report Share Posted January 21, 2015 Every little bit helps in terms of keeping the debt load down! I was also expecting it to go in the other direction, so this was a pleasant surprise. Link to comment Share on other sites More sharing options...
rmorelan Posted January 21, 2015 Author Report Share Posted January 21, 2015 Every little bit helps in terms of keeping the debt load down! I was also expecting it to go in the other direction, so this was a pleasant surprise. Absolutely - I mean it sucks for Canada and is indirectly nailing doc income (bad income = no raises) but for now it helps. Link to comment Share on other sites More sharing options...
ploughboy Posted January 21, 2015 Report Share Posted January 21, 2015 Cheap oil, cheap money, and a yet crappy economy. When I have a patient on norepi, vaso, prone, and on the oscillator, I generally call a family meeting to address how terrible the prognosis is and to clarify goals of care. But I'm no economist. Link to comment Share on other sites More sharing options...
rmorelan Posted January 22, 2015 Author Report Share Posted January 22, 2015 It is exactly like the ICU - you cannot control the low price of oil (vital organ is failing), and if you stop the low rates (vasopressors) the patient will immediately crash. The entire family doesn't want the patient to die (do all you can doc!) so you are stuck with exactly one option - more chemical cardiac simulation and pray this will kick start on their own. The bank of canada has exactly three tools - change the interest rate, print money and make encouraging speeches. None of those are exactly useful here. Link to comment Share on other sites More sharing options...
ralk Posted January 22, 2015 Report Share Posted January 22, 2015 While falling oil isn't great for Canada in general looks like there will be a small loc rate drop! Did not see that coming! Doesn't look like the Bank of Canada's rate drop will affect the prime rate at major banks for a while. TD has already publicly stated they won't lower their prime rate and I don't see any other major banks making a move either. The drop in the BoC's overnight rate is encouraging in that the prime rate probably won't rise any time soon, since that was a distinct possibility this year, but it doesn't look like we'll get a break on our LOCs either. Link to comment Share on other sites More sharing options...
osteogeek Posted January 22, 2015 Report Share Posted January 22, 2015 Absolutely - I mean it sucks for Canada and is indirectly nailing doc income (bad income = no raises) but for now it helps. Agreed... selfishly, though, it's great timing for those of us currently in training (at least prime isn't going up right now!). Hopefully things start to rebound in the next couple of years though, no one wants another recession. Link to comment Share on other sites More sharing options...
ploughboy Posted January 26, 2015 Report Share Posted January 26, 2015 It is exactly like the ICU - you cannot control the low price of oil (vital organ is failing), and if you stop the low rates (vasopressors) the patient will immediately crash. The entire family doesn't want the patient to die (do all you can doc!) so you are stuck with exactly one option - more chemical cardiac simulation and pray this will kick start on their own. The bank of canada has exactly three tools - change the interest rate, print money and make encouraging speeches. None of those are exactly useful here. It's fun to live in interesting times... Link to comment Share on other sites More sharing options...
ralk Posted January 27, 2015 Report Share Posted January 27, 2015 Looks like after pressure from the public, the banks have made a minor rate cut, down 0.15% (rather than the 0.25% the BOC cut). Not much, but it's something! Link to comment Share on other sites More sharing options...
rmorelan Posted January 31, 2015 Author Report Share Posted January 31, 2015 Looks like after pressure from the public, the banks have made a minor rate cut, down 0.15% (rather than the 0.25% the BOC cut). Not much, but it's something! Hehehe I am sure the bank of canada had something to do with that as well (drop the rate or we will be forced to drop the interest rate further - if we do that then the currency will devalue even more (which has been going on lately because of the drop) and you seem to have a large supply of canadian dollars (your deposits) that will suddenly be worth less internationally. Your move banks). Link to comment Share on other sites More sharing options...
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