Wednesday, October 21, 2009

The bank of Canada is keeping rates where they are

The bank of Canada is keeping the prime interest rate at this ultra low
level at least until next year

The bank of Canada his decision today to keep the interest rate at these
altra low levels could have a serious negative impact on the Canadian dollar
which dropped almost 2 points today in trading on the world market

If the Bank increased the rates it would have serious impact and apply
upward pressure on inflation

They are trying to keep inflation low as well as they don't want our dollar
to reach par with the US dollar

The Bank of Canada is stating intrest rates will stay this low until at
least late spring next year.

I hope this finds you Happy and Healthy!

All the Best!


A. Mark Argentino
P. Eng. Broker
Specializing in Residential & Investment Real Estate

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  1. Just out of interest, do you think when the prime lending rates do increase they will increase substantially? There has been a lot of speculation here in the Calgary real estate market that interest rates will end up spiking to counter inflation. I have been advising my buyers to lock in for as long as they can and look at the overall savings instead of hoping for another 1/10th of a point savings. What is your take?

  2. Thanks for your comments. I do believe that the prime will increase by at least 1% by the end of next year to slow the rate of inflation. I still think it's early to lock in, there is still about 6 months of low rates to take advantage of before the rates begin to increase.

    Regardless, my advice is to go short or variable for the next 25 years, you will likely save tens of thousands using this strategy. Read more at this link:
    All the best,

  3. Canada bank is doing the right thing. The point is to be true with its clients and don't try to make more money over the people