The interest rates in Canada are at their lowest since 1963, and are expected to fall even more. There is a benefit to consumers; thousands of dollars have been slashed off mortgages ($3000 less/yr on a $100 000 mortgage) and hundreds ($500 less/yr on a $15 000 car) from the costs of financing a car purchase. The Bank of Canada decision to reduce the prime rate made way for cheaper loans f

The effects of the interest rate reductions may cause unbelievable benefit to the Canadian economy and it's people. It has the potential to change the whole country for the better, economically. Lower interest rates can decrease the costs of loans making large purchases more affordable as well as entrepreneurship and educational loans more affordable. Yet these interest reductions may also cause careless spending and economic disaster. It would be impossible to predict all the economic implications in the future or even to make a reasonable attempt; but if an attempt is made at trying to understand that there will be effects and that there is great diversity in these effects, a great step forward is achieved which is contrary to not attempting to accept the fact that changes such as disaster, or even prosperity is an unavoidable possibility.

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Some common words found in the essay are:
Scenario Canadians, , Bank Canada, low rates, canadian economy, lower rates, reductions cause,
Approximate Word count = 599
Approximate Pages = 2 (250 words per page double spaced)