Agent Blogs

Bank of Canada Announcement January 19th, 2010 

Bank of Canada leaves rate unchanged!

The Bank of Canada maintains the overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010.

OTTAWA - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.

The global economic recovery is under way, supported by continued improvements in financial conditions and stronger domestic demand growth in many emerging-market economies. While the outlook for global growth through 2010 and 2011 is somewhat stronger than the Bank had projected in its October Monetary Policy Report, the recovery continues to depend on exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.

Click below to read the full article.

http://www.bankofcanada.ca/en/fixed-dates/2010/rate_190110.html

The current bank prime is 2.25%.

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