No Change to Rates at Bank of Canada’s Meeting

The Bank of Canada left its key lending rate at 0.25%…as pretty much the whole world expected.

Not much changed from the Bank of Canada’s last announcement in October.  In its statement today it said:

  • “The target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
  • “While significant fragilities remain, global economic developments have been slightly more positive and the global outlook has improved modestly…”
  • “The Bank continues to expect…inflation to return to the 2% target in the second half of 2011.”
  • “The overall risks to (the Bank of Canada’s) inflation projection are tilted slightly to the downside.”

The Bank of Canada’s main focus, of course, is controlling inflation.  There has been nowhere near enough strong economic news for it to consider raising rates—nor do economists expect any for a while to come. 

The next Bank of Canada’s interest rate meeting is January 19, 2010.

 

It's Your Career - I'm Here To Support YOU!

Constantine Isslamow

Real Estate Broker/Mortgage Broker/Manager

Century 21 United Realty Inc. Brokerage/CENTUM Core Financial Inc.

Independently Owned and Operated

Blog / Website / Follow Me / LinkedIn

CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391

Blog Archives

Tags