HOME RATES ABOUT SERVICES VIDEOS BLOG CONTACT ME TEAM
AGENT LICENSE ID
NB 160000730 NS 182519416
BROKERAGE LICENSE ID
NS161759015 NB160000476 ONT M18000001
Tonya Russell NB Mortgage Associate  NS Mortgage Broker

Tonya Russell

NB Mortgage Associate NS Mortgage Broker


Phone:
Address:
466 Bowlen St. , Fredericton, New Brunswick

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Bank of Canada maintains overnight rate target at 1/2 per cent

3/1/2017

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/2 per cent. The Bank Rate is correspondingly 3/4 % and the deposit rate is 1/4 per cent.

 

CPI inflation rose to 2.1 % in January, reflecting higher energy prices due in part to carbon pricing measures introduced in two provinces. The Bank is looking through these effects, as their impact on inflation will be temporary. The Bank’s three measures of core inflation, taken together, continue to point to material excess capacity in the economy.

 

Overall, recent data on the global and Canadian economies have been consistent with the Bank’s projection of improving growth, as set out in the January Monetary Policy Report (MPR). In Canada, recent consumption and housing indicators suggest growth in the fourth quarter of 2016 may have been slightly stronger than expected.

 

However, exports continue to face the ongoing competitiveness challenges described in the January MPR. The Canadian dollar and bond yields remain near levels observed at that time. While there have been recent gains in employment, subdued growth in wages and hours worked continue to reflect persistent economic slack in Canada, in contrast to the United States.

 

Source: Bank of Canada

MY LENDERS

TD Bank Scotia Bank Attain Mortgage First National MCAP B2B Bank
Home Trust Merix Equitable Bank Street Capital CMLS Fisgard Capital
ICICI Bank Optimum  RMG Mortgages Bridgewater Marathon Mortgages