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Bank of Canada - Interest Rate held steady - October 2019

Blog by Paul Thomas, REALTOR | October 30th, 2019

Bank of Canada holds interest rates steady at 1.75%.

This is not the whole story as Mortgage rates are dependent on the bond market, and that has been falling as most of the G7 countries lower their lending rates.  Some european countries are paying you to borrow money!  Getting back to Canada... Inflation is on target at about 2%.  We do have strong employment with growth in IT and service industries.  The energy sector continues to struggle with lower comodity prices exacerbated by transportation bottlenecks that have been well documented.
So, while the BoC lending rate has not changed it does seem that the pressure going forwards is downwards.