Bank of Canada Rate Hold
The Bank of Canada announced today that it is leaving the overnight rate at 0.25%. Banks therefore are expected to keep their prime rates at 2.25%.
The Bank of Canada has identified offsetting factors in our economy that will keep them on the sidelines when considering rates.
The Bank of Canada also noted that "In recent weeks, financial conditions and commodity prices have improved significantly, and consumer and business confidence have recovered modestly." On the other hand, it admitted that Canada's "outlook is subject to considerable uncertainty." The challenges have been job uncertainty as a result of slowed manufacturing. This is compounded by the growing Canadian dollar which makes exports problematic.
Joe Samson, a Calgary REALTOR ® who has been helping clients to achieve their goals in the Calgary real estate market for many years now. Please visit some of his other web pages such as Evergreen real estate.
To Your Real Estate Success!
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Last updated on: 2012-05-17 00:22:34
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