Mortgage Logic

Bank of Canada Updates

Bank Rate/Variable Rate Watch

Bank of Canada leaves rate as is, although it signaled that they will begin raising it sooner than later, i.e. June rather than July 2010.  The extent and timing of increases will depend upon the economic outlook, and more specifically targeting a 2% inflation rate.  There are three considerable reasons existing why the bank rate …

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Bank of Canada Maintains Overnight Rate Target at 1/4 per cent

OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. The global economic recovery is under way, supported by continued improvements in financial conditions and stronger …

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Bank of Canada Maintains Overnight Rate Target

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. While significant fragilities remain, global economic developments have been slightly more positive and the global outlook has improved modestly relative to the …

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Bank of Canada Announcement

OTTAWA – The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent. Information received since the Bank’s April Monetary Policy Report (MPR) is broadly consistent with the Bank’s …

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Bank of Canada lowers overnight rate target by 1/2 percentage point

3 March 2009, OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3/4 per cent. The outlook for the global …

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