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…

Read more

Leave a Reply

Your email address will not be published.