Bank of Canada rate remains unchanged

The Bank of Canada announced today that it is leaving its key interest rate
unchanged, and repeated its commitment to hold the rate steady until the
second quarter of 2010, conditional upon inflation.

In its statement the Bank judges that the factors affecting its inflation
outlook are “roughly balanced” at this time. “On the upside, the main risks
are stronger-than-projected global and domestic demand. On the downside,
the main risks are a more protracted global recovery and persistent strength
of the Canadian dollar.”

The Bank also noted that “the economy grew at an annual rate of 5 per cent
in the fourth quarter of 2009, spurred by vigorous domestic spending and
further recovery in exports.”

Pricing for loans that are typically linked to a lender’s prime rate (such
as variable-rate mortgages, variable-rate credit cards) is expected to
remain unchanged in the wake of today’s announcement. Pricing for
fixed-rate mortgages is not directly affected by the Bank’s key rate.

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I proudly server buyers and sellers in the Toronto Neighbourhoods of: Forest Hill, Bedford Park, Cedarvale, North York, North Toronto, Summit Heights, Wilson Height, Bathurst Manor, Leaside, Bayview, Thornhill, Richmond Hill and all surrounding areas.

Whether you’re buying or selling and looking for a Toronto Realtor or feel free to e-mail or phone us and we will be happy to guide you through your real estate experience.


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Diane Plant, Broker
Re/Max Realtron Realty Inc, Brokerage
(416) 782-8882

TORONTO REAL ESTATE WEBSITE





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