A Recent Hike - Fromme Mountain
  
It may not be a great pic, but that is me at the top of Fromme Mountain.
For those of you who don't know, Fromme is the peak directly east of Grouse. There are decent views, mostly to the backcountry to the north, but that isn't the main reason to do the hike. It's more about the climb through the second growth forest. Really peaceful.
It's an intermediate hike, with some significantly steep sections, but over all not tough at all. We did it in an hour and forty minutes. There are different starting points, so if you think you might give it a try, make sure you have plenty of time to get up and back down in daylight.
The interesting thing is that I think a lot of people have assumed winter is over. But trust me: it was cold up there. Snow in places over a foot deep. Ice in crevasses.....But heck, who am I kidding? To go up there in winter, in shorts, just points out what an absurdly mild winter we have had.
The Bank of Canada held steady
Following the last cut on January 21, many big banks predicted a further cut would be made today, but the Bank of Canada has moved to maintain the rate at ¾ per cent, citing improved economic conditions since that last move.
Now, for that exciting "Bankspeak":
“Financial conditions in Canada have eased materially since January, in response to the Bank’s recent monetary policy action and to global financial developments,” an official release from the central bank states. “This easing is reflected across the yield curve and in a wide range of asset prices, including the Canadian dollar. These conditions will mitigate the negative effects of the oil price shock, further boosting growth through stronger non-energy exports and investment.”
We'll see how things go in the coming weeks.
Why Canadians Can Expect Low Interest Rates For Longer — much longer: Morgan Stanley
Don’t look for another interest rate hike for two more years; in fact, there is a one in three chance the Bank of Canada will actually cut rates before the end of this year, Morgan Stanley predicts.
This article was published on January 15th - 6 days before the Bank of Canada did, in fact drop their rate by 25 basis points. Oddly, banks are only following with a 15 basis point reduction and keeping the extra 10 for themselves.
Follow this link for the rest of the story http://bit.ly/1B7zh9c
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