Mortgage Logic

Bank of Canada Makes No Change in Key Rate Last Week

Economic news this week further endorses BoC holding rate steady

“Ongoing excess supply” in the economy has yielded stable prices.  Any fear of inflation seems to be subdued by this and the mess in Europe.  Rates continue stable.  The last time BoC altered it’s rate was September 2010.  Bank rate remains at 1%, Prime rate 3%.  Further Canadian economic news this week (Dec 15th, 2011) shows a slower economy that previously thought.  This bodes for continued low rates coming out of the BoC.

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