Roundup: Rate cut, dollar drop

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In a move that surprised pretty much everyone yesterday, the Bank of Canada lowered their already rock bottom prime interest rate to 0.75 percent as a means of dealing with the effect of falling oil prices on our economy, and in response, the dollar dropped even further. Bank Governor Stephen Poloz said that the upsides of lower oil prices could have positives, but as the economic forecast was also downgraded, he said that it could delay recovery by at least a year. Opposition reaction to the rate cut was that it showed the government was mismanaging the economy, but Justin Trudeau also wouldn’t say if he would run deficits, nor would Thomas Mulcair indicate how he would pay for his childcare promises. Andrew Coyne is not bothered by the falling dollar, saying we’ll adjust, though as I watch my purchasing power evaporate before my eyes at the iTunes store, I can’t say I’m too happy about it.

Good reads:

  • The government has apparently re-repealed healthcare for refugee claimants, citing their appeal of the Federal Court decision.
  • The government’s messaging around interns appeared to change when an NDP bill on the subject came up for debate.
  • A pair of law professors warn that laws against the “glorification” of terrorism would be hard to balance with the Charter while making it harder for police to track lone wolf terrorists.
  • Stephen Saideman further clarifies what our Special Forces are doing in Iraq, and why it’s important to our air strikes.
  • Dave Perry has some ideas about how to fix defence procurement.

Odds and ends:

Liberals aren’t talking about the challenge to the nomination process in Beaches–East York.

Freshly acclaimed as an NDP candidate, Independent MP Maria Mourani says the government’s Middle East positions makes us a target for more terrorist attacks.

Budget timing could be that it’s released just before the two-week Easter break – not that tabling it before a break week is uncommon, since they can then go back to their ridings and talk about all of the good parts.

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