Overnight Rate Holds Steady
Mark Carney has held the Bank of Canada’s benchmark overnight rate steady once again at 1%. He does, however, hint to eventual rate hikes in order to meet inflation targets. Read the full article from The Globe and Mail, here. If you’re having trouble, please paste this address into your browser: http://www.theglobeandmail.com/report-on-business/economy/interest-rates/mark-carney-signals-rate-hike-coming/article2101904/
What does that mean for Canadians? In the near future, we can expect interest rates to remain stable, but we may have some rate hikes on the horizon for the latter part of the year.