CENTRAL BANK RATE UNCHANGED

Sep 04, 2013

By Bob Komsic

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It’s been there since September 2010 and will remain there for awhile yet it seems.

The Bank of Canada says as long as there are no major changes in our economy, there are no plans to change the trendsetting interest rate of one per cent.

Economists aren’t surprised.

They expect it to stay where it is until well into next year.

One analyst says they don’t forsee a hike until early 2015.

The central bank says it has no plans to change the rate as long as household finances continue to improve, inflation remains low and there is considerable slack in the economy.

Despite promising signs in both Japan and Europe for a recovery, the Bank of Canada says emerging market economies continue to show financial volatility.

 

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