The Globe and Mail reports in its Friday, Nov. 22, edition that Ottawa unveiled its multibillion-dollar plan to alleviate financial pressures for households by temporarily dropping the GST on a wide range of products for two months and sending most working Canadians a $250 cheque in April. The Globe's triple bylined item reports that the measures will cost the federal government $6.28-billion, according to the Finance Department -- $1.6-billion for the sales tax break and $4.68-billion for the cheques. Bay Street believes that the stimulus and Ontario's $3-billion in cheques will boost short-term economic growth but jeopardize a larger interest rate cut from the Bank of Canada next month. Desjardins Securities macro strategy head Royce Mendes, referencing the next Bank of Canada rate decision on Dec. 11, said, "The announcement should all but close the door to a 50-basis-point cut next month." BMO managing director Benjamin Reitzes said the stimulus announced by Ottawa would have a meaningful impact and "should solidify expectations" for a rate cut of 0.25 percentage point in December. He said, "We're assuming a good chunk of the stimulus cheques will be saved, but the GST/HST rebate will drive additional spending."