Bank of Canada Holds Rates, Says High Inflation Will be Temporary - Mortgage Rates & Mortgage Broker News in Canada
The Bank of Canada’s Wednesday rate announcement was “steady as she goes,” as it maintained its Quantitative Easing program and reiterated that rates should stay where they are until the second half of next year. The overnight lending rate remains at 0.25%, where it’s been since last March. But that’s expected to change about a year from now, according to the BoC’s guidance. “We remain committed to holding the policy interest rate at the effective lower bound until economic slack
Original Article Source Credits: canadian mortgage trends, https://www.canadianmortgagetrends.com
Article Written By: Steve Huebl
Original Article Posted on: June 9, 2021
Link to Original Article: https://www.canadianmortgagetrends.com/2021/06/bank-of-canada-holds-rates-says-high-inflation-will-be-temporary