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Bank of Canada expected to Lower Interest Rates

By Gina Burgio

Mortgage and Lending with VERICO Designer Mortgages Inc.

November 12, 2008 04:31 PM

Bank of Canada has hinted that they may cut interest rates again.

Early today in Toronto, Bank of Canada Senior Deputy Governor Paul Jenkins stated, "Some further monetary stimulus will likely be required to achieve our 2 percent inflation target over the medium term."

The Cdn Central Bank cut its benchmark overnight lending rate to 2.25 percent on Oct. 21.

Some economists expect that the Bank of Canada will cut their overnight rate a half point to 1.75 percent on Dec. 9. This would be the lowest since 1960.

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Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

Each VERICO Broker is an independent owner operator.

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Karen Anne Stone

New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX

Fort Worth Real Estate

Gina: Lowering interest rates is a good thing. So... question: When are they going to start handing out free samples ?

Nov 12, 2008 04:35 PM

Steven Nickens

Hawaii Life Real Estate Brokers - Wailea, HI

R(S)GRI ABR, Maui Real Estate Hawaii

Aloha Gina,

I heard that Europe is doing the same. I heard this will help the American dollar.

Steve

Nov 12, 2008 05:01 PM

Michael A. Caruso

Surterre Properties - Laguna Niguel, CA

This is a good thing. We need a worldwide effort for stimulus to stem off the potential for a depression.

Nov 12, 2008 05:06 PM

Richard Iarossi

Coldwell Banker Residential Brokerage - Crofton, MD

Crofton MD Real Estate, Annapolis MD Real Estate

Gina, Looks like the Bank of England is going one better. They're considering lowering interest rates to zero.

Nov 12, 2008 10:35 PM

Fred Griffin Florida Real Estate

Fred Griffin Real Estate - Tallahassee, FL

Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2018!

Much has changed since you last posted to ActiveRain. I encourage you to take another look at the website.

Best to you!

Dec 31, 2017 08:12 PM

Bank of Canada expected to Lower Interest Rates

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