Central Bank Holds Steady at 1%

Today, The Bank of Canada announced that it is maintaining its target for the overnight rate at 1 percent. Citing uncertainty around the global economic outlook and deteriorating conditions in global financial markets, amongst a host of other reasons, the Bank has decided to maintain the target for the overnight rate. Said the Bank’s Press Release: “With the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada. The Bank will continue to monitor carefully economic and financial developments in the Canadian and global economies, together with the evolution of risks, and set monetary policy consistent with achieving the 2 per cent inflation target over the medium term.” Read the release here.


Subscribe to my monthly newsletter by clicking here.

Tags:

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 Tuesday, December 6th, 2011 at 4:57 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.

Leave a Reply

Fill in the missing number *

RE/MAX four seasons realty limited, brokerage  ♦  67 First Street Collingwood, ON L9Y 1A2  ♦  705-445-8500