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| Natalia Kotcherova Broker, Vladimir Kotcherov Salesperson
Sutton Group Signature Realty Inc., Brokerage | |
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Keeping you informed on latest Real Estate trends |
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| Posted on Tue, 19 Jan 2010, 06:37:11 PM in Financial News | | | | The Bank left Canada’s key lending rate at a record low 0.25%. That’s been the rate since April 21 of last year.
In today’s report it said:
“Conditional on the outlook for inflation, the target overnight rate can be expected to remain at its current level until the end of the second quarter of 2010.”
“The global economic recovery is under way.”
The economy should return “to full capacity” with inflation returning “to the 2% target in the third quarter of 2011.”
“The Bank projects that the economy will grow by 2.9% in 2010 and 3.5% in 2011.” (an increase versus its prior forecast)
The next Bank of Canada meeting is March 2, 2010.
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In Other News…
Canada’s leading indicators posted their biggest gain in 27 years in December—up 1.5% month-over-month. Economists had expected a rise of just 1.0%. It tied February 1983 for the largest gain in over 50 years.
Government bond yields are flat and today’s news should have little effect on mortgage rates in the short-term.
Contact us for more Real Estate news and latest trends.
Regards,
Natalia and Vladimir | |
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