Krepski Mortgage Team
200-260 Hearst Way K2L 3H1 Ottawa, ON, Canada

The Bank of Canada (BoC) announced today that it’s maintaining the overnight rate at 1.75%. The Bank Rate is correspondingly 2% and the deposit rate is 1.5%. The BoC has maintained the current overnight rate October of 2018, when it was raised from 1.5%.

The Bank of Canada (BoC) announced today that it would keep the overnight rate at 1.75%. The Bank Rate is correspondingly 2% and the deposit rate is 1.5%. The BoC has maintained the current overnight rate since last October, when it was raised from 1.5%. No one really expected the central bank to raise rates, but there was speculation that the rate would drop back to 1.5%, even though a recent survey indicated a near certainty of a rate hold, This lack of movement makes Can...ada somewhat of a holdout among other central banks around the world that are dropping rates to help their local economies in an uncertain global economic climate. - Excerpt from Mortgage Broker News by Kimberly Greene See more