Bank of Canada's key interest rate remains unchanged at 0.50%
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The Bank of Canada's key interest rate remains unchanged at 0.50%. For those of you with variable rate mortgages and/or lines of credits, your payments will remain unchanged.
The Bank of Canada reports that the economy is in a slow growth period and will be for some time. However, it does predict increased activity in many sectors as the US economy strengthens.
Core inflation remains close to 2%, in keeping with the BoC’s target range.
The current rate is expected to stay where it is well into 2017.
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