Mortgage News
Bank of Canada keeps interest rate at 1%
The Bank of Canada once again announced it would be keeping the benchmark interest rate at 1% on Wednesday.
Published
Bank of Canada Governor Stephen Poloz announced that the benchmark interest rate would once again be kept at the record setting low it has been since September of 2010. This latest announcement seems to be a sign to economists that Canada's central bank is leaning towards cutting, rather than raising rates.
In a statement following Wednesday's announcement, the central bank is quoted as saying "The bank continues to expect a soft landing in the housing market".