Bank of Canada holds rate steady at 0.25% even as it expects economy to shrink until March

Author: External Author | | Categories: Investment Property , Mortgage Agent

The Bank of Canada elected to keep its benchmark interest rate steady at 0.25 per cent on Wednesday, reiterating its pledge to keep it there "until the recovery is well underway."

Eight times a year, Canada's central bank meets to set its benchmark interest rate, known as the target for the overnight rate, which impacts the rates that Canadians get on things like mortgages and savings accounts at banks.

Read More

Original Article Source Credits:   CBC News ,

Article Written By:  Pete Evans 

Original Article Posted on:   Jan 20, 2021 

Link to Original Article: