Mortgage News Bank of Canada makes key interest rate announcement by admin December 5, 2018July 19, 2019 December 5, 2018July 19, 2019 The Bank of Canada is leaving its key interest rate unchanged, as expected, at 1.75 per cent. This morning’s announcement comes in the wake of a move by the Alberta government to curtail oil production in the province after Jan. 1 to try to clear a crude storage glut that has driven western Canadian oil prices to multi-year lows. Meanwhile, the recently announced plan to close the General Motors of Canada car plant in Oshawa similarly offers a downside risk to future growth. Bank economists say an unexpected dip in monthly gross domestic product figures in September and lower-than-expected oil prices so far in the fourth quarter have dampened growth expectations and placed in doubt forecasts for a January bank rate increase. Lower growth prospects are expected to reinforce Bank of Canada Governor Stephen Poloz’s strategy of moving very gradually on increases to its overnight rate. Economists say they will be closely watching Poloz’s speech on Thursday for signs of how events are affecting his view of the path forward. Bank of Canadainterest rateinterest rate announcement Source : The Canadian Press About Nest and Castle Nest & Castle Inc is a leading edge real estate brokerage based in the heart of the Greater Toronto Area (GTA). We provide creative solutions and strategic advice on all aspects of the real estate industry. Our mix of conventional real estate techniques and forward-thinking technologies makes the buying or selling of your home, an easy and enjoyable experience. Search Exclusive New Developments Looking for your Dream Home? Sell Smarter With Data. It's The Future. 0 comment previous post These Are the Top Ontario Sellers’ Markets next post Bad news for Montreal investors You may also like Breaking: Federal budget includes first-time buyer incentives March 19, 2019 First Look: 11 YV Condos August 15, 2019 RBC cuts 5-year fixed mortgage rate January 21, 2019 First Look: 99 Blue Jays Way – Toronto August 19, 2019 Why cash flow doesn’t matter January 25, 2019 October Market Insights November 28, 2018 First-time homebuyers can apply for incentive program in... August 28, 2019 DETERMINING MORTGAGE AFFORDABILITY – CREDIT SCORE July 3, 2019 Rate rises may be reshaped by oil production... December 4, 2018