Canada Set To Unleash Negative Rates As Oil Patch Dies, Depression Deepens

Tuesday, January 19, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
01/19/2016

Canada’s oil “dream” is dying thanks to the inexorable slide in crude prices and as the IEA made clear earlier today, the pain is set to persist for the foreseeable future as the world “drowns in oversupply.” Now, the Bank of Canada must make a choice: cut to support the economy and the country’s dying oil patch, or hold to shore up the plunging loonie. Whatever the BOC decides on Wednesday, some say the country’s depression means NIRP is right around the corner.

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