Advertisement
Mark Carney stays true to his promise and keeps interest rates low.
Got high credit card debt? Looking to buy a new house? Then you can thank Mark Carney today for not raising interest rates.
The Bank of Canada announced today that it was keeping rates at 0.25%, staying true to its promise that it won’t increase rates until mid-2010 at least.
Carney added that economy was performing slighty worse than he predicted three months ago. “Economic growth in Canada resumed in the third quarter of 2009 and is expected to have picked up further in the fourth quarter,” said Carney. “Nevertheless, considerable excess supply remains, and the bank judges that the economy was operating about 3.25% below its production capacity in the fourth quarter of 2009.”
The BoC also said that economy contracted by 2.5% in 2009, slightly worse than it’s 2.4% projection.
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Whether you want the highest interest rate or no service fees, these savings accounts will meet your needs.
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...
The Trump effect and Trumponomics, Shopify’s huge earnings beat, it’s sunny days for Suncor shareholders and more.
Here’s how to get your free ticket to attend two MoneyShow virtual expos.
Should you be paid as a power of attorney? Learn about the compensation rules in Ontario and how to...
The oilsands giant will return all excess cash to shareholders after hitting debt target early.
You started investing in your 20s, and you feel pretty good about doing it. But now what? Consider impact...
Shopify reports third-quarter net income of USD$828 million, and its executives aren’t concerned about how Trump’s election win will...
