As part of the commentary I've read and heard associated with the interest rate cut are comments to the effect that the economical slowdown in Canada is expected to last until 2010. Along with that the same commentators say that in the US it will be deeper and longer lasting. While many US commentators say recovery in US will be in 2008 or 2009 at the latest. Obviously these opinions clash.

I have more faith in the canadian opinions because they seem more objective to me.
Just want to say that if you hear optimistic commentaries, take them with a good dose of salt.