Bank Of Canada Maintains Overnight Rate Target

Posted by Bank of Canada

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Bank of Canada

Bank of Canada

“Today the bank of Canada announced that they will not be increasing the overnight lending rate. This is a good sign that past rate increases have made an impact and the BoC is observing the change.

The next BoC meeting will be January 9th, where they will revisit increasing rates.” Kyle Green, Owner, Green Mortgage Team

The Bank of Canada today maintained its target for the overnight rate at 1¾ per cent. The Bank Rate is correspondingly 2 per cent and the deposit rate is 1½ per cent.

The global economic expansion is moderating largely as expected, but signs are emerging that trade conflicts are weighing more heavily on global demand. Recent encouraging developments at the G20 meetings are a reminder that there are upside as well as downside risks around …Click here for full article.