Bank of Canada increases rate

Posted by Joe Samson & Associates on Wednesday, September 8th, 2010 at 12:46pm.

The Bank of Canada increased their key lending rate by 0.25% to 1%. Banks therefore are expected to raise their prime rates to 3%.
 The Bank of Canada said consumption growth is expected to remain solid and business investment to rise strongly.
 
The Bank now expects the economic recovery in Canada to be slightly more gradual than it had projected. "Financial conditions in Canada have tightened modestly but remain exceptionally stimulated."

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Last updated on: 2012-02-13 00:18:50

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