17 January 2012
17 January 2012
Bank of Canada keeps its key rate unchanged…again
| At this year’s first Bank of Canada meeting the key interest rate was left unchanged. It means the rate remains at 1.00% level since September 2010.It’s the first time the central bank doesn’t raise rates for so long. For mortgage borrowers it meansthat prime rateremains at 3.00%, so payments on variable-rate mortgages stay the same. |
Actually, such a decision didn’t come as a surprise, as economists predicted no rate hikes this time. Special attention was paid to the BoC’s official statement, which included a lot of important announcements, such as…