This appears to be THE plan for an inflation solution to the debt bomb. The "gradual" devaluation of the buck makes debt repayment cost less, and American stocks cost less especially in view of the falling foreign markets.
Royal Bank of Canada ups prime rate to 4.5 percent
7/16/2002 9:13:30 AM TORONTO, July 16 (Reuters) - Royal Bank of Canada (CA:RY) said on Tuesday it would increase its prime rate to 4.5 percent from 4.25 percent, effective July 17.
The bank's announcement followed the Bank of Canada's decision to increase its overnight interest rate by 0.25 percentage points to 2.75 percent and also the bank rate by 0.25 percentage points to 3.0 percent.
Other Canadian banks are expected to follow suit.
The prime rate is the interest rate banks charge their best customers for loans.
Good Luck to All! :^) PLAN the TRADE and TRADE the PLAN!
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