Bank of Canada Holds Interest Rate
The Bank of Canada announced today that it is keeping its key rate unchanged, making Canada an outlier as many countries around the world have responded to a weakening global economy by lowering rates. The Bank noted that Canada's economy has held up well but will be tested as trade conflicts and uncertainty persist. Going forward the Bank will be closely watching our main sources of strength which are consumer spending and housing.
The next rate-setting day is Wednesday, December 4th.
It's important to get advice and a personal assessment of your situation if you need a new mortgage, are renewing, looking to refinance for debt consolidation, renovations or other large expenditures. Good advice saves time, money, and stress!
Source: Invis Financial
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