Mortgage News
BoC keeps rate and expectations unchanged
Stephen Poloz may have brought more candour to the Bank of Canada, but he is following Mark Carney’s lead in maintaining interest rates at super low levels for what is likely to be at least another year.
Published
The Bank of Canada issued its first policy announcement with new governor Stephen Poloz on Wednesday, and kept the benchmark overnight rate at 1%. Many had expected the introduction of a new governor to set Canada's central bank on a new course than the one set by Mark Carney, the previous BoC governor.
The overnight rate is anticipated to stay steadily at the 1% mark for at least another year, providing the Canadian economy and inflation outlook remain the same.