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Bank of Canada Announcement |
The Bank of
Canada maintained its target rate. It is worth
reading the final paragraph (below) as it mentions
possible withdrawal of "monetary policy stimulus",
meaning rate hikes are possible in the near future.
"Reflecting all of these factors, the Bank has
decided to maintain the target for the overnight
rate at 1 per cent. In light of the reduced slack in
the economy and firmer underlying inflation,
some modest withdrawal of the present considerable
monetary policy stimulus may become appropriate,
consistent with achieving the 2 per cent inflation
target over the medium term. The timing and degree
of any such withdrawal will be weighed carefully
against domestic and global economic developments
Click here to read the full press release
The next Bank of Canada Announcement is scheduled
for
June 5th, 2012
P.S. If you have any questions as to what this means to your mortgage, we are always here to help you with unbiased advice.
... Bill Nugent
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