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Bank of Canada Reaffirms Its Low-Rate Outlook

Author: External Author | | Categories: Bank Mortgage , Mortgage Broker , Mortgage Pre-Approval , Mortgage Renewal , New to Canada Mortgage Program

Despite a booming housing market and rapid job recuperation, the Bank of Canada warned that the country’s economic recovery will be “heavily reliant on policy support.”

The Bank made the statement during its interest rate decision Wednesday, where it left the key lending rate unchanged at its “effective lower bound” of 0.25%.

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Original Article Source Credits:   CANADIAN MORTGAGE TRENDS ,

Article Written By:  Steve Huebl

Original Article Posted on:  September 10, 2020

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