Bank of Canada Holds Steady at 1%

Bank of Canada Target RateFor 21 consecutive policy decision meetings, the Bank of Canada has kept their Overnight Rate at 1%.   Citing an economy that is underperforming, the rate is being kept steady … for now.  Outgoing Bank of Canada Governor, Mark Carney, in his penultimate target rate policy decision, predicts that the Canadian Economy will grow in 2014, but will not reach full capacity until mid-2015.  What does that mean for us, as consumers?  It likely will mean that the target for the overnight rate (upon which banks base their lending and investment interest rates) will remain steady for the forseeable future.

Read the full article here.


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About Marg

is an award-winning real estate Broker who has successfully been helping people move since 1989. When it’s time for a move in or out of a bigger, smaller, better, more expensive, less expensive, newer, older, house, condo, farm, investment property, vacant lot or business, talk to Marg.

This entry was posted by Marg on Saturday, April 20th, 2013 at 12:27 pm and is filed under Money Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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