Variable rate holders may be able to rest easy for another 6 weeks. The Ottawa Sun says, “The Bank of Canada…will almost certainly pass on another opportunity to raise interest rates [on Tuesday].”
After today, the BoC’s next scheduled interest rate announcement is December 4, 2007. Most “experts” predict rates will not go up at this meeting either. Canada’s economy is still strong, however, despite huge manufacturing job losses and an untamed loonie.
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Last modified: April 25, 2014
If rates rise (not likely any time soon) a $1.10 may not be far off. The sub prime mess will take years to unfold in the US. So the pressure to raise rates is small… the banks in the summer were calling for up .75% increase by Dec.! Like the weather everyone talks about it, and if you make frequent enough calls you will be right.
regards,
Brian
You’re absolutely right Brian. Predicting rates entails as much certainty as a game of Plinko..