Cory O'Brien

Cell (604) 868-5860 | info@coryo.ca

  Mortgage Calculator

Calculate Your Payments

  Buyer Resources

Best Real Estate Advice

  Seller Resources

Selling For Top Dollar

  Mobile Listings

Search Anywhere Always

  Here To Help You

You Can Contact Me Always

No surprises from the Bank of Canada this morning. The Bank left its overnight rate at 1 per cent, where it has been since September 2010. The statement released this morning in support of the interest rate decision noted that while global economic headwinds continue to restrain economic activity, the Canadian economy is growing roughly in line with its production potential. On inflation, the Bank sees core inflation returning to its 2 per cent target over the next 12 months.

 

The Bank once again made clear that a gradual withdrawal of monetary stimulus may be become appropriate as excess supply in the Canadian economy is absorbed, but that such withdrawals would need to be weighed against domestic and global economic developments. Given ongoing uncertainty in the Euro-zone and the unresolved "fiscal cliff" in the United States, that caveat means that the Bank will likely hold off on raising rates until early 2013. We expect monetary tightening to proceed very cautiously, with perhaps a 25 to 50 basis points increase over 2013, bringing the Bank’s overnight rate to between 1.25 and 1.5 per cent by the end of next year.

Read full post
Categories:   Brentwood Park, Burnaby North Real Estate | Burnaby Real Estate | Cedar Hills, North Surrey Real Estate | Central Coquitlam, Coquitlam Real Estate | Central Meadows, Pitt Meadows Real Estate | Central Pt Coquitlam, Port Coquitlam Real Estate | Chineside, Coquitlam Real Estate | Citadel PQ, Port Coquitlam Real Estate | College Park PM, Port Moody Real Estate | Coquitlam Real Estate | Coquitlam Traffic | Coquitlam West, Coquitlam Real Estate | Durieu, Mission Real Estate | Eagle Ridge CQ, Coquitlam Real Estate | East Central, Maple Ridge Real Estate | Econnomics | GL Glenayre, PM Port Moody Real Estate | Glenayre, Port Moody Real Estate | Glenwood PQ, Port Coquitlam Real Estate | Grandview Surrey, South Surrey White Rock Real Estate | Grandview VE, Vancouver East Real Estate | Guildford, North Surrey Real Estate | Hatzic, Mission Real Estate | Heritage Mountain, Port Moody Real Estate | Home Seller's Tips | Lincoln Park PQ, Port Coquitlam Real Estate | Lower Mary Hill, Port Coquitlam Real Estate | M | Maple Ridge Real Estate | Mary Hill, Port Coquitlam Real Estate | Meadow Brook, Coquitlam Real Estate | Mortgage News | New Horizons, Coquitlam Real Estate | NH New Horizons, CQ Coquitlam Real Estate | North Coquitlam, Coquitlam Real Estate | North Shore Pt Moody, Port Moody Real Estate | Northwest Maple Ridge, Maple Ridge Real Estate | Oxford Heights, Port Coquitlam Real Estate | Port Coquitlam Real Estate | Port Moody Centre, Port Moody Real Estate | Port Moody Real Estate | Quay, New Westminster Real Estate | Real E | Real Estate News | Sapperton, New Westminster Real Estate | Scott Creek, Coquitlam Real Estate | Silver Valley, Maple Ridge Real Estate | Southwest Maple Ridge, Maple Ridge Real Estate | Surrey Real Estate | The Crest, Burnaby East Real Estate | The Heights NW, New Westminster Real Estate | Uptown NW, New Westminster Real Estate | Websters Corners, Maple Ridge Real Estate | West Central, Maple Ridge Real Estate | Westwood Plateau, Coquitlam Real Estate | Willoughby Heights, Langley Real Estate | Woodland Acres PQ, Port Coquitlam Real Estate