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  • Demitry Omrin


When the impact of the pandemic began to take hold earlier this year, the incoming BOC governor Tiff Macklem first mentioned the notion of negative interest rates. Among other considerations, negative rates are intended to stimulate economic activity by engaging savers or "hoarders" of money to spend and invest. This concept of negative rates would infer that an economy is at such a low point that negative rates would be a last resort to force economic stimulus. However, if an economy is repeatedly shut down and a significant portion of the population is left with dwindling savings, the economic stimulus brought about by negative rates will have much less (if any) impact. I would like to see more emphasis on keeping our economy open. The recent rollback to phase 2 for Toronto and York Region excludes larger retail operations. If they can safely remain open under a protocol than the same can be said for small business owners. #recg #covid #commercialvaluations #negativeinterestrates

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