Not too much of a surprise here; most experts did not expect that the Bank of Canada would raise its overnight lending rate, and they did not.
http://www.bankofcanada.ca/en/fixed-dates/2010/rate_020310.html
Bank of Canada maintains overnight rate target at 1/4 per cent and reiterates conditional commitment to hold current policy rate until the end of the second quarter of 2010
OTTAWA — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1/4 per cent. The Bank Rate is unchanged at 1/2 per cent and the deposit rate is 1/4 per cent.
In the statement accompanying Tuesday’s decision, Governor Mark Carney and his rate-setting panel acknowledged that growth and inflation have been hotter than policy makers estimated in their January forecast, saying the economy’s 5-per-cent growth in the fourth quarter was “spurred by vigorous domestic spending and further recovery in exports.”
Tags: Bank of Canada, Interest Rates, Mortgages
