Wednesday, July 15, 2015

Bank of Canada Announces another rate cut to 0.5% as of July 15

As of July 15, 2015 the Prime Rate was cut to 0.5%

The Bank of Canada announced a drop in the prime rate to 0.5% on July 15 at the latest press conference,

The Bank of Canada is cutting its key interest rate for the second time this year, citing a larger-than-expected first half contraction and a “puzzling” stall in non-energy exports.

The central bank lowered its benchmark overnight rate by a quarter percentage-point Wednesday to 0.5 per cent, blaming faltering global growth, disinflation and low prices for oil and other commodities.

I hope this finds you Happy and Healthy!
All the Best!
A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

RE/MAX Realty Specialists Inc.
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