Bank Of Canada Keeps Interest Rate The Same

On September 9, the Bank of Canada announced that it would be keeping its overnight lending rate at 0.5 per cent.

“Little has changed since the Bank’s previous announcement and revised economic forecast published in July. Its September announcement serves as a placeholder as the Bank awaits more economic date prior to the release in October of its Monetary Policy Report, which will be published two days after the federal election,” said the Canadian Real Estate Association in a press release.

The next rate announcement from the Bank of Canada is expected on October 21.

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