I don’t like to get political, but I couldn’t resist after reading in to todays announcement from Canada’s central bank.  Every year, there are eight (8) scheduled dates where the Bank of Canada take to the stage and announce their rationale for an increase or decrease in the benchmark lending rate, or as was the case today, a declaration to simply leave things (unchanged), as is, at 1.25%.

So for most Canadians, this is great news.

Actually, it’s not just great news…                    it’s fu**ing awesome news.

For the working class, this means there is no increase in your variable rate mortgage payment, credit card, personal line of credit or any other variable component debt facility.  So party on, Working Class!  But like any prudent financial related professional should tell you, put aside some of that stash for a rainy day (disclaimer).  With six more announcements scheduled for 2018, we are bound to see an increase at one point in the near future.

Wait a minute, it’s actually great news for the wealthy, too!  This means that your interest only payments will remain as they are and you can continue to (rightfully) write them off as you have (no doubt) invested in something spectacular that will generate more $$ into our US-dependent economy.  Three cheers for the business owners…hip, hip… (go ahead, shout it out loud)!

So, as implied in the title of this blog, had it not been for Mr. Trump and his NAFTA bustle, Canadians may have spent the evening mapping out and scaling back their personal spending habits.

But not tonight, baby!  Have a great evening and put those interest savings to good use!