Back to Blog

Bank of Canada lowers benchmark rate

The Bank of Canada announced today that it is lowering its key rate down to 0.50 per cent given faltering global growth, a lower outlook for Canadian growth and increased downside risks to inflation. The Bank notes that “additional monetary stimulus is required to help return the economy to full capacity and inflation sustainability to target.”

Great news if you’ve got a variable-rate mortgage, need a new mortgage, are renewing, or want to consolidate debt at the lowest cost funds. Get in touch today for help determining whether a fixed or variable-rate mortgage will work best for your situation.

Comments

No comments

Post Your Comment: