Bank of Canada holds key rate at 1% January 18th, 2011
The Bank of Canada holds their key lending rate at 1%. Banks therefore are expected to keep their prime rates at 3%. The Bank of Canada’s key points:
1.”Global economic recovery is proceesing at a somewhat faster pace than anticipated”.
2.”Stretched household balance sheets are expected to restrain the pace of consumption growth and residential investment.”
3.”With a little more excesss supply in the near term, that Bank continues to expect that the economy will return to full capacity by the end of 2012.”
With rates staying low, we are continuing to recommend that clients stay in their variable rate mortgages. The date of the Bank of Canada’s next announcement is scheduled for March 1st, 2011.
If you would like to receive this rate watch please sign up for it at my website.
No comments yet.
Leave a Reply
-
Recent
- Bank of Canada holds key rate at 1%
- Bank of Canada holds key rate at 1%
- Bank of Canada holds key rate at 1%
- Rate Watch Bank of Canada holds key rate at 1%
- Are you paying too much interest on your variable rate mortgage?
- Bank of Canada holds key rate at 1%
- RBC apologizes to Brokers
- Bank of Canada holds Key interest rate April 12th 2011
- The advantage of paying bi-weekly accelerated vs monthly
- First Time Home Buyer Tax Credit $$
- Bank of Canada Holds Key Rate at 1% March 1st!
- Bank of Canada holds key rate at 1% January 18th, 2011
-
Links
-
Archives
- January 2012 (1)
- December 2011 (1)
- September 2011 (1)
- July 2011 (1)
- June 2011 (1)
- May 2011 (1)
- April 2011 (2)
- March 2011 (3)
- January 2011 (2)
- December 2010 (1)
- November 2010 (1)
- October 2010 (1)
-
Categories
-
RSS
Entries RSS
Comments RSS
