Interest Rate Steady at 3%

Posted by Mahmud Naqvi on Jun 10, 2008 in News | 0 comments

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent, much to the surprise of most finance gurus. Apparently its the energy costs that are driving this rate stability. Bank of Canada Governor Mark Carney was expected to lower interest to boost the economy. Here is what Bank of Canada has to say: Since the April Monetary Policy Report (MPR),...