88% percent chance to cut in Q3 was right (they should've cut in June but the Fed is reactive not proactive). Those rates from that survey along with the "consesus points to down year in rates on back of slower economy led by housing" are coming to fruition. Although I do have to say that one post concerning rates going much much higher that even a 4 year old can see the trend was a good laugh. Now we get to see whose plan will be used to bailout the housing market in Cali/Florida/Nevada/Arizona - Congress or El Presidente. The bigger the bailout the fewer rate cuts will be needed.
We still have aleast a year untill all the effects of sub prime lending issue come to the surface. This rate cut should be enough for the interm. BTW USD/CAD is @ 1.141 going lower. Akuma