Bank of Canada Raises Interest Rate, September 8, 2010

Education & Training with RE/MAX Eastern Realty Inc. Brokerage RECO #4724381

The Bank of Canada raised its key interest rate another 25 basis points Wednesday morning, making it the third increase since June.

BoC Governor Mark Carney’s move to increase the overnight lending rate from 0.75 per cent to 1 per cent suggests the bank is confident with Canada’s economic recovery and that monetary stimulus can be relaxed.

Still, Canadian gross domestic product (GDP) didn’t meet the bank’s expectations for the second quarter, rising only 2 per cent instead of 3 per cent.

Second quarter growth represents an even sharper decline compared to the previous quarter when GDP was 5.8 per cent.

Posted by

It's Your Career - I'm Here to Support YOU!

Constantine Isslamow

Broker of Record / Mortgage Broker

CENTURY 21 United Realty Inc. Brokerage.

Independently Owned & Operated

CENTUM Core Financial Inc. Brokerage License #: 10642 Constantine Isslamow License#: M08005391

Friends, followers and Connections are the way of the future.


Comments (1)

Jeremy Moore
Century 21 United Realty* - Peterborough, ON

Always great information! Thanks for sharing:)

Sep 09, 2010 10:15 AM