Bank of Canada holds steady on rates, 2013 economic prediction
- Post: Dec 4, 2012 by Jeet Nagi
- Tags: Mortgage Rates, Mortgage Renewal, Mortgage News, Refinance Of Mortgage, Real Estate News, Jeet Nagi Realtor, Jeet Nagi Best agent in Brampton
Bank of Canada holds steady on rates, 2013 economic prediction
Kevin Carmichael - Globe and Mail
The Bank of Canada is looking through weaker economic growth, opting to leave its benchmark interest rate unchanged, and holding to a prediction that Canada's economy should gather pace next year.
"In Canada, economic activity in the third quarter was weak, owing in part to transitory disruptions in the energy sector," the Bank of Canada said in a statement at the end of its latest round of policy deliberations Tuesday. "Although underlying momentum appears slightly softer than previously anticipated, the pace of economic growth is expected to pick up through 2013."
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Term | Our Rate | Bank Rate |
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5 yr Fixed | 2.89% | 5.35% |
5 yr Variable | 2.65% | 4.00% |
Updated : December 04, 2012 | ||
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