Recently, under one of the most delicious headlines that one could imagine, the Globe and Mail, under one subtitle, printed the following: “Deep rate cut tests banks' patience“.
“Deep rate cut tests banks' patience”.
Not yours, but that of all of the banks. This attests to the arrogance of the banks, that are registering fabulous profits, in the tens of billions of dollars, and to which the Conservative government granted cuts last fall. The banks are beginning to show a certain impatience. We are counting on you to use the levers at the disposal of the State in the market.
What might we do to reduce the mortgage spread, the difference between the official rate and the five-year rate?