Mortgage Made Easy
01-20-2016, 08:14 AM
The Bank of Canada today maintained its benchmark interest rate at 0.5 per cent.
The rate affects the saving and borrowing rates that Canadians get from their lending institutions banks. The central bank cut its rate twice last year in an attempt to stimulate the economy.
Headed into the decision, economists were evenly split as to whether the bank would cut again or stand pat.
Bank of Canada Announcement (http://www.bankofcanada.ca/2016/01/fad-press-release-2016-01-20/)
Next Interest Rate Announcement is March 9, 2016
The rate affects the saving and borrowing rates that Canadians get from their lending institutions banks. The central bank cut its rate twice last year in an attempt to stimulate the economy.
Headed into the decision, economists were evenly split as to whether the bank would cut again or stand pat.
Bank of Canada Announcement (http://www.bankofcanada.ca/2016/01/fad-press-release-2016-01-20/)
Next Interest Rate Announcement is March 9, 2016