Canada Keeping Our Rates Low

(April 17, 2012 )

During their meet, Bank of Canada announced that they are keeping overnight interest rates unchanged.  What that means is our Prime Rate for mortgages are staying the same.  The central bank has kept our interest rates at the same level since September of 2010.

But it isn't going to stay that way for long.  Because economies around the world are doing better, and with inflation getting stronger, the Bank of Canada is hinting that rates will go up soon.  It expects Canada's economy to return to levels prior to the recession, in the first half of 2013.

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