Interest Rates Staying The Same

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March 4, 2010

Interest rates staying the same by Kat

Interest rates are staying at their current, and as you all know, very low, level at least until the end of the second quarter of 2010, the Bank of Canada has declared on Tuesday. The exact level of the bank’s key lending rate is 0.25 and even though it will not change anytime soon, it is expected that in the third quarter of this year it is going to rise.

As for the economic recovery in our country, the statement of the Bank of Canada claims that “the underlying factors supporting Canada’s recovery are largely unchanged.” These still are policy stimulus, improved financial conditions, increased confidence, global growth, and higher terms of trade.

Well, the information about the interest rates staying stable was not really surprising, was it? The next announcement of the Bank of Canada regarding interest rates will be on April 20. We should see whether the predictions about their rise in the third quarter are right, then.