One Percent it is: Bank of Canada Holds it’s rate, again.

Here in the local (Collingwood, Blue Mountains, Clearview, Wasaga Beach and Meaford) blogosphere, we’re pleased with this morning’s announcement that the target for the overnight rate has once again been held at 1% by the Bank of Canada.Bank of Canada Target Rate

According to the central bank, “the Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.”

With a well-functioning financial system and near-historic lows of the target interest rate, Canada has a considerable amount of monetary stimulus in it’s economy.  Mortgage rates are low correspondingly, making it a great time to buy! 

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 Thursday, March 8th, 2012 at 11:04 am 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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