Bank of Canada leaves overnight lending rate unchanged
The Bank of Canada announced today that, yet again, it's maintaining the target for the overnight rate at ½ percent.
The Bank gave a number of reasons for its decision, including:
- inflation continues to remain below its two percent target (which is in line with the Bank's April projection);
- various economic uncertainties continue to cloud the global and Canadian outlooks; and
- export growth remains subdued in the face of ongoing competitiveness challenges.
The Bank also mentioned in its announcement that macro prudential and other policy measures have not yet cooled their targeted housing markets, but they have contributed to more sustainable debt profiles. Robust consumer spending, and improved labour market and increased business investment are all signs the Canadian economy is looking "encouraging".
If you have any questions about how this announcement could impact your mortgage decisions in the near future, please feel free to give me a call. I'd love to chat.
Save the Date
The Bank of Canada's next meeting date is scheduled for July12, 2017.
Buy a House in Calgary Now
Average List Price: $551,460
Active Listings: 16,391
Recently Sold Properties: 1,752
Annual income required:$106,363.48
Based on 5% down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Buy a House in Airdrie Now
Average List Price: $408,492
Active Listings: 1,170
Recently Sold Properties: 313
Annual income required:$79,586.06
Based on 5% down payment. O.A.C. For Information purposes only.
**To see what you qualify for contact me**
Do you have any friends, family or colleagues that you feel could benefit from any of the services I offer? Do you know anybody who would benefit from the information provided? If so, I would appreciate it if you would share this email, pass it around. Thanks so much. Forward to a Friend | 
No comments:
Post a Comment