The Bank of Canada announced yesterday, April 17, 2013, that it is maintaining its target for the overnight rate at 1 per cent.
The Bank of Canada has held the benchmark interest rate at 1% for nearly three years running and despite record household debt, a crumbling eurozone and slowing growth in China, there’s still no sign that’s going to change any time soon.
Interestingly, the Governor of the Bank of Canada has been hinting for more than a year that the next rate move will be up even as the outlook for economic growth has grown increasingly gloomy — leading some observers to predict that in fact a downward shift is more likely.
