For Canadian - Will Poloz lower interest rates again?

[theguyfromanotherforum]

Thus making our Canadian dollar tank even further. It's barely at 26.60 today. The decision is on July 15th.

How does this affect your long term stay in Thailand?

[elgordo38]

It sucks. The central bank has no compassion for savers only spenders. Yes they will cut rates unfortunately. They will again tempt spenders to borrow more than they can afford and kick us savers in the arse. Its another handout to manufacturers who cannot compete on a level playing field they need the government to hold their hand. The Canadian government has no clue on how to diversify only pump oil out of the ground and look where that gets us. Our friends to the south who years ago clamoured to buy our oil literally begged for it have now have turned their back on us. 70% of our economy is oil and we need to change that but it falls on deaf ears in Ottawa all they are worried about now is to throw SB at the opposition parties and get a majority again in October its just sickening. They spend nothing on R and D and upgrading infrastructure they only worry about keep the debt under control and what does that get us a strong currency hell no its in the proverbial shitter. Its all one big sad joke at our expense we the people who worked and saved all our lives only to have the rug pullout from under neath us in our so called "Golden Years" All central banks IMF and other big financial institutions are all in bed together in a race to the bottom to cheapen their currency and bring in zero percent interest rates which is killing the pensioner on getting a decent return on his savings and also chops us off at the knees here. The exchange rate is murder.

[theguyfromanotherforum]

It sucks man. I bought a condo in Canada just before I left for this very reason. I was sure the economy was going to tank and interest rates would remain low forever. This is the only way to protect yourself. I would actually prefer if interest rates went up as interest on mortgage is tax deductible, but losing almost 1 million baht in savings over 2 years leaves a bad taste in my mouth.

The tourism may take a hit, so the bank of Thailand will probably lower interest rates... that's my only hope really.

[eng911]

Hi Guys,

I'm in Hamilton, just outside Toronto, and I wanted to ask you guys a question or get your opinion. Half of my retirement savings is sitting in RRSP's. So my plan has always been to just leave my money in Canada. I was thinking to just withdraw it at a rate of about 3k a month and could possibly do income splitting with my wife. Is this not the preferred method or have you guys declared Thailand as your primary residence and taken the 25% hit to leave with all your money? I was thinking if I left it here I may actually pay less in tax.

How did you guys handle that? Did you move most of your savings into Thai banks or leave it in Canada? Or is most of your money paid out monthly via a pension?

Cheers,

Tony

[theguyfromanotherforum]

I'm far from being retired. Maybe someone else can help you. If it matters I am still a resident for tax purpose even though I can't even see a doctor in Canada.