OTTAWA, Jan 20 (Reuters) - The Bank of Canada cut its key interest rate on Tuesday by a half-point to a 50-year low of 1 percent, and predicted a period of falling prices this year as an economic recession takes hold.
The central bank signaled that further cuts may be on the horizon, but said it would judge carefully "to what extent further monetary stimulus will be required".
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Banks' mortgage rate cuts add to housing affordability
Eric Beauchesne, Canwest News Service Published: Thursday, November 27, 2008
The recent fall in housing prices in Canada has made home ownership more affordable, and broad-based cuts to mortgage rates announced by Canada's major banks yesterday will help even more.
The Quebec-based Desjardins Group said that its index of Canadian housing ...
Posted by Shaun Kimmins
on November 28, 2008