Wednesday, January 23, 2013
The Bank of Canada also comments on future circumstances and predictions of what it sees for interest rates in the future. At each announcment, as they did this morning, they update their forcast. This is the latest forcast:
"Following an estimated 1.9 per cent in 2012, the Canadian economy is expected to grow by 2.0 per cent in 2013 and 2.7 per cent in 2014, and to reach full capacity in the second half of 2014, later than anticipated in the October Report." This indicates that as long at the economy in Canada and globally continues as it is, we can probably expect that interest rates will remain at about 1% well into 2014. This is good news for people who need to borrow.
All the Best!
For more information please contact A. Mark Argentino
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1