Ottawa, Ontario -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The heightened uncertainty around the global economic outlook has decreased in the weeks since the Bank released its January Monetary Policy Report (MPR). With tentative signs of stabilisation in European bank funding and sovereign debt markets, conditions in global financial markets have improved and risk aversion has decreased. However, the global economy is still expected to grow below its trend rate as the deleveraging process in advanced economies proceeds.

Posted by Bank of Canada dated March 08, 2012

Read Mmore at http://www.bankofcanada.ca/2012/03/press-releases/fad-press-release-2012-03-08/

Ottawa, Ontario -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic outlook has deteriorated in recent weeks as several downside risks to the projection in the Bank’s July Monetary Policy Report (MPR) have been realized. The European sovereign debt crisis has intensified, a broad range of data has signalled slower global growth, and financial market volatility has increased sharply. Recent benchmark revisions show that the U.S. recession was deeper and its recovery has been shallower than previously reported. In combination with recent economic data, this implies that U.S. growth will be weaker than previously anticipated.

Posted by Bank of Canada dated September 07, 2011, Read more.....

http://www.bankofcanada.ca/2011/09/press-releases/fad-press-release-2011-09-07/

Ottawa -

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

The global economic expansion is proceeding broadly as projected in the Bank’s April Monetary Policy Report (MPR), with modest growth in major advanced economies and robust expansions in emerging economies. The U.S. economy has grown at a slower pace than expected and continues to be restrained by the consolidation of household balance sheets and slow growth in employment.  

Read more.....Posted by Bank of Canada dated July 19/2011

http://www.bankofcanada.ca/2011/07/press-releases/fad-press-release-2011-07-19/

OTTAWA –The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

As anticipated in the January Monetary Policy Report (MPR), the global economic recovery is becoming more firmly entrenched and is expected to continue at a steady pace.  In the United States, growth is solidifying, although consolidation of household and ultimately government balance sheets will limit the pace of the expansion.  European growth has strengthened, despite ongoing sovereign debt and banking challenges in the periphery.  The disasters that struck Japan in March will severely affect its economic activity in the first half of this year and create short-term disruptions to supply chains in advanced economies.  Robust demand from emerging-market economies is driving the underlying strength in commodity prices, which is being further reinforced by supply shocks arising from recent geopolitical events. These price increases, combined with persistent excess demand conditions in major emerging-market economies, are contributing to the emergence of broader global inflationary pressures.  Despite the significant challenges that weigh on the global outlook, global financial conditions remain very stimulative and investors have become noticeably less risk averse. 

Posted by Bank of Canada dated April 12, 2011

http://www.bank-banque-canada.ca/en/fixed-dates/2011/rate_120411.html

Canadian Association of Accredited Mortgage Professionals Responds to
Government Measures Announced Today on Mortgage Insurance

Toronto, ON (January 17, 2011) – “Canada’s housing sector is one of the principal pillars of the Canadian economy and today’s measures outlined by Finance Minister Jim Flaherty are part of reassuring Canadians that their primary asset is well protected,” said Jim Murphy, AMP, President and CEO of the Canadian Association of Accredited Mortgage Professionals (CAAMP).

In particular, CAAMP supports measures that strengthen owners’ equity in their homes as well as those that encourage the reduction of their mortgages. CAAMP is also pleased that no change was made to the down payment requirement as it recommended.

Murphy added that “rather than reducing the amortization period to 30 years from 35, as the Minister has announced, we would have preferred that the government had required those people seeking 35 year amortizations to meet the same qualifying standards as those with a shorter amortization. We hope the government will revisit this one feature as the economy strengthens.”

Posted by CAAMP dated Jan 17, 2011

http://www.caamp.org/press-releases.php?pid=31&article=652

Bank of Canada maintains overnight target rate at 1% and prime rate remains same at 3%.

The economic outlook for Canada has changed. The Bank of Canada expects the economic recovery to be more gradual than it had projected and housing activity is declining. Inflation in Canada has been slightly below the Bank’s July projection. With a weaker U.S. outlook, moderate growth and domestic considerations are expected to slow down the consumption and housing activity in Canada. Therefore any further reduction in monetary policy stimulus would need to be carefully considered.

Posted by Bank of Canada dated Oct 20/2010

http://www.bank-banque-canada.ca/en/fixed-dates/2010/rate_191010.html