Tuesday, October 27, 2009

bank of Canada hold the line on the current interest rates

The Bank of Canada continues to say they will hold the line on the current interest rates. Thsi is very good news for buyers and investors, real estate should continue to do well in this climate of low interest rates.

Entire press release is below

All the best,

Bank of Canada repeats pledge on rates

OTTAWA (Reuters) - The Bank of Canada repeated on Tuesday a conditional pledge to keep interest rates steady through mid-2010, saying the Canadian dollar's strength would more than fully offset favorable developments since July.

Governor Mark Carney, in opening remarks to the House of Commons finance committee, said recent indicators point to the start of a global recovery and that a recovery is under way in Canada following three consecutive quarters of sharp contraction.

He also repeated that the central bank has "considerable flexibility in the conduct of monetary policy at low interest rates," language that means that the bank could, if necessary, engage in quantitative easing, essentially printing money.
Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
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E-MAIL: mark@mississauga4sale.com
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