Mortgage Logic

Bank of Canada Holds the Line on Key Rate

Bank of Canada decides to hold key rate “as is” yesterday.  BoC is concerned with the potential issues of a lingering strong $CDN vs. $US.  Inflation should stay in check for foreseeable future, because of the strong $CDN.  Prices of imported goods should partially offset higher gas prices at the pumps.  Key overnight lending rate for BoC is 1%.  Canadian chartered bank Prime rate of interest is 3%.

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