My Real Estate Blog - Market Trends, Tips & Updates
Bank of Canada cuts its key interest to 0.75 per cent
1/21/2015 | Posted in Mortgage News by Paul DeAdder | Back to Main Blog Page
OTTAWA - Bank of Canada governor Stephen Poloz says the economy has been suffering from the effects of an "oil shock," so he prescribed a remedy: an unexpected interest rate cut.
To deal with the impact of falling oil prices, Poloz lowered Canada's trend setting rate Wednesday from one per cent to 0.75 per cent, a move that blindsided the vast majority of experts.
