Bank of Canada Leaves Rates As Is
The Bank of Canada’s rate announcements have sounded pretty similar for the last 8 months: no change, no change, no change…
Well, today they met again, and guess what? No change.
The Bank left Canada’s key lending rate at a record low 0.25%. That’s been the rate since April 21 of last year.
In today’s report it said:
- “Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
- “The global economic recovery is under way.”
- The economy should return “to full capacity” with inflation returning “to the 2% target in the third quarter of 2011.”
- “The Bank projects that the economy will grow by 2.9% in 2010 and 3.5% in 2011.” (an increase versus its prior forecast)
The next BoC meeting is March 2.
source: Canadian Mortgage Trends (CMT)
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
0 comments • Raymond MAASKE • January 19 2010 09:48AMComments
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