Bank of Canada Interest Proposed Interest Rate Changes

Bank of Canada Meeting

At the Bank of Canada meeting earlier July 17th, it was decided to leave its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. All indications point to it being left alone for the rest of 2012 fiscal year.

Thats good news for Home Buyers & Sellers!

Other Bank of Canada News......

The Bank projects that the economy will grow by 2.1 per cent in 2012, 2.3 per cent in 2013 and 2.5 per cent in 2014. The economy is expected to reach full capacity in the second half of 2013, thus operating with a small amount of slack for somewhat longer than previously anticipated.

Things are really starting to look up!

All The Best


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