Interest Rates Stay The Same!
The Bank of Canada announced today that it will hold its rate at 1/2 percent. Banks therefore are expected to keep their prime rates at 2.25%.
The Bank of Canada inflation worries have subsided somewhat. The Bank now says Canadian inflation risks "are roughly balanced."
The Bank of Canada has mentioned again the fact that high domestic demand and ongoing financial stimulus is spurring on the Canadian recovery. That being said, the level of economic activity at 5% annualized growth is a little higher than their projections from their January Report.
The Bank of Canada has mentioned that a higher than desired Canadian dollar as well as absolute low levels of US demand for Canadian products are acting as a significant drag on our economy. As a result, they have again affirmed their commitment to keep the variable rate at its current level until at least June 30, 2010.
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Last updated on: 2012-02-13 00:18:50
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