The Bank of Canada’s next interest rate announcement comes tomorrow, Tuesday December 8 at 9:00 AM EST

Check back here for tomorrow’s announcement.

Related Story:

“Bank of Canada Governor Mark Carney’s pledge to freeze record-low borrowing costs through June may be raising the chances of a bubble in home prices even as it helps the economy recover from its first recession in 17 years.

Sales of existing houses rose 74 percent in October from the January low, with prices up 21 percent from a year ago to a record C$341,079, partly because of Carney’s promise — the only date-specific commitment from a Group of 20 central banker. To prevent the economy from overheating, Carney will raise his benchmark rate by 125 basis points to 1.5 percent in 2010, while Federal Reserve Chairman Ben S. Bernanke will keep his key rate at 0.25 percent, said Stephen Gallagher, chief U.S. economist in New York at Paris-based Societe Generale SA.”

“The central bank hasn’t talked much about house prices, “to the bafflement of international investors,” said Eric Lascelles, chief economist and rates strategist with TD Securities Inc. in Toronto. The bank’s next opportunity comes tomorrow in an interest-rate announcement scheduled for 9 a.m. New York time.”

Full story at: bloomberg.com

Tags: prime rate announcement, bank of canada, Canada prime rate December 2009, canada prime rate, bank of Canada announcement, bank of canada prime rate, Canada Prime Rate Updates