Bank of Canada Interest Rate Announcement January 18
The Bank of Canada announced a few minutes ago that there will be no change to the key overnight lending rate.
The interest rate will remain at 1.00%, unchanged since September. This was anticipated by almost all analysts. Acording to the Bank, ” The recovery in Canada is proceeding broadly as anticipated, with a period of more modest growth and the beginning of the expected rebalancing of demand”. Mortgage rates are not expected to change as a result of today’s announcement. As always, check out the great rates available on the right side of the page if you’re looking for a mortgage or to re-finance an existing mortgage.
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As expected, the Bank of Canada has announced that they will be holding the key overnight lending rate at 1.00%
The rate is expected to remain at this level for some time due to worse than expected economic conditions.
The Bank of Canada said the economic recovery slowdown is due to disappointing productivity gains and the strong loonie, which makes Canadian goods more expensive in foreign markets.
“This underlines a previously identified risk that a combination of disappointing productivity performance and persistent strength in the Canadian dollar could dampen the expected recovery of net exports,” the central bank said in a release.
Read more: http://www.cbc.ca/canada/montreal/story/2010/12/07/money-boc-rates.html#ixzz17RMNOgDS
Bank of Canada Interest Rate Announcement October 19, 2010
The Bank of Canada has decided to leave the key overnight interest rates at the level set back in September, 1%. This is after 3 interest rate hikes in a row this year.
This is attributed to a cooling off of economic growth seen earlier this year. The fact that the U.S. economy is not yet showing signs of recovery may also be a factor in the interest rate decision.
Mortgage rates are not expected to change as a result of today’s announcement. There are still some great mortgage rates available through the updated ad on the right. A 5 year closed mortgage is offered at 3.45%. Try to get that at your bank.
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The Bank of Canada will release an interest rate announcement in 2 hours. The Canada prime rate is not expected to change due to recent economic statistics. Check back after 9 AM EDT for more.
Tags: Canada Prime Rate Updates, canada prime rate today, bank of Canada announcement, canada prime rate, bank of canadaBank of Canada Prime Rate Update September 8, 2010
The Bank of Canada has announced that it is raising the the key interest rate, the rate at which banks borrow and lend amongst themselves, by 0.25% to 1.00%.
According to analysts, this may be the last interest rate hike until 2011. If you need to lock-in the best rate possible for either a new mortgage or a renewal, please CLICK HERE now to compare Canadian mortgage rates from banks and the top brokers.
“Bank Governor Mark Carney has long signaled the need to hike national borrowing costs in order to rein in economic activity and reduce inflationary pressures. But now, economists believe the central bank will hold rates steady at one per cent after Wednesday’s boost. TD is forecasting the bank’s rate at one per cent until at least the second quarter of 2011. The Bank of Montreal figures Canada’s one per cent interest to last even longer, until the July-to-September period in 2011.”
Read more: http://www.cbc.ca/canada/montreal/story/2010/09/07/bank-of-canada-rate-lookahead.html#ixzz0yrk8VDu4
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Canada Prime Rate Up 0.25% Today
As was widely expected, the Bank of Canada raised its key lending rate by 0.25% this morning.
This brings the rate to 0.75%.
The next rate announcement will be in September and another rise is likely according to analysts.
I’ve added some links below that may help you find the lowest mortgage rates possible for your own situation.
Click here to check on the major bank mortgage rates. These rates will be updated as necessary.
Click here to read my mortgage story and find out how my family is saving thousands in interest.
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