Bank of Canada Keeps Key Interest Rate

The Bank of Canada announced this morning that they will be holding the key interest rate. Therefore, there is no change for those who have a variable rate credit product.

They plan to continue to maintain the rate until the second half of 2022.

Quantitative easing is also continuing to stay on course.

In regards to Covid and the fourth wave, the Bank believes that the economy will strengthen through the second half of the year, although supply chain issues may cause problems for the recovery.

What are your thoughts for this announcement?

If you'd like to learn more or if you have any questions, please feel free to message me and I'd be glad to help!