Bank of Canada Leaves Overnight Rate Unchanged Again
Last time the Bank of Canada (BOC) was expected to drop the overnight interest rate they did not. This time they were expected to leave it where it was at, and they did. Siting
Three major developments are affecting the Canadian economy: the protracted weakness in the U.S. economy; ongoing turbulence in global financial markets; and sharp increases in many commodity prices. The first two developments are evolving roughly in line with expectations in the April Monetary Policy Report. However, commodity prices are continuing to outstrip earlier expectations. This has led to further increases in Canada's terms of trade and real national income, and has altered the outlook for global and domestic inflation.
Go and read the whole report from the Bank of Canada, Bank of Canada keeps overnight rate target at 3 percent.
Matthew Collinge: Vancouver REALTOR®
