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…