October 23rd, 2012 @ // No Comments

Bank of Canada Target rate remained @ 1%

Based on all the challenges in the international economy – sluggish in the United States, slowing in China, multiple issues in Europe – The Bank of Canada maintained the benchmark interest rate at 1%, where it has been for the last 25 months. The Bank of Canada rate is not likely to increase the rate until some improvements are seen in the international economy.

 

The outlook for interest rates on variable mortgages and lines of credit look stable at this point. The next review is scheduled for December 4th, 2012.

 


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