Bank of Canada remains firm at 1%...

In an announcement earlier today, the Bank of Canada left the key interest rate unchanged citing that the economy still has a lot of recovering to do. This is good news for variable rate and home equity line of credit mortgage holders as their interest rate will not change. The bank also predicted that they may keep the key interest rate low for some time if economic conditions remain the same.
The next interest rate announcement is scheduled for Tuesday, January 18th 2011.


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