Mortgage Blog

Bank of Canada Rate Announcement

March 8, 2012 | Posted by: Crescent Mortgage Corp.

The Bank of Canada held its key interest rate at 1 per cent Thursday, while hinting that higher borrowing costs could come sooner than expected by stressing signs of improvement both in Canada and abroad, and again calling household debt the biggest domestic risk.

In leaving borrowing costs alone for a 12th consecutive meeting, policy makers extended what has become the longest pause in several decades, a decision that was expected by Bay Street analysts and economists, most of whom see Governor Mark Carney staying on hold until at least the middle of next year.

The central bank’s next decision is scheduled for April 17, and policy makers will release a quarterly forecast the following day in Ottawa.

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