Julian Lau

Bank of Canada (BOC) has started tapering (less bond purchasing to potentially cause bond rate to rise) in April. Although Canadian 20-year bond rate rose sharply at the beginning, it has fallen below April's level. Both variable and fixed rate have decreased. The spread between the two has also narrowed. 

The new announcement by BOC maintains its outlook, which means it will continue to taper and potentially raise interest rate next year. However it will not do both at the same time, in order to minimize the impact. Also the US Fed only recently announced that it could possibly start tapering end of this year or next year and it would not raise interest rate until much later.

I am not an economist, but an economist would not write anything less than enough to put you to sleep. It is my opinion that we will have low rate for quite some time, since both central banks are pretty keen on not letting rate go too high.