19 Jul

Bank of Canada Update. No change in prime rate. July 18, 2014

General

Posted by: Anne Martin


 


Anne Martin
Mortgage Agent | FSCO # M10002257

705-720-1001
1-800-500-1841 
 
anne@ndlc.ca | www.barriemortgagelocators.com

39 Collier Street, Ste 300 Barrie ON L4M 1G5

  

  Neighbourhood Dominion Lending Centres |  FSCO 11764  Independently Owned & Operated

Friday, July 18, 2014
Market Update

As expected there was not a change in the Bank of Canada rate. Bank Prime remains at 3%
Some of their key points are summarized below.

  • While inflation has risen faster than expected, core inflation remains in an acceptable range. They anticipate this staying steady the next 2 years.
  • Global growth has been slower than anticipated. This has also been the case with the Canadian economic picture.
  • They anticipate our economy hitting full capacity around mid 2016.

The next meeting is on September 3, 2014

P.S. If you, your family, or co-workers require guidance on current market trends, please call me, I am always available to help.

…Anne

Bank of Canada maintains overnight rate target at 1 per cent

04 July 2014
Contact: Media Relations 613 782-8782

OTTAWA — 

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Total CPI inflation has moved up to around the 2 per cent target in recent months, sooner than expected. Core inflation has also increased but remains below 2 per cent. Recent higher inflation is attributable to the temporary effects of higher energy prices, exchange rate pass-through and other sector-specific shocks, rather than to any change in domestic economic fundamentals. Over the next two years, inflation is projected to fluctuate around 2 per cent as these temporary effects ease and the downward pressure on inflation from economic slack and heightened retail competition gradually dissipates.

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 Historical Interest Rate Graphs   

Below you will find a feature which will give you current interest rate trends. It  can also be accessed on our web site. I hope you and your clients find it useful

Click here to  access rate graphs 


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