Bank of Canada Announcement on Interest Rates

Today was an adjustment point for the Bank of Canada to change Interest rates for Canadians. They announced no change and held the rate steady at 3 1/4%. With a message of concern for lower economic growth along with higher inflation to possibly 3%.

The impact on mortgage rates will be neutral, with rates expected to remain steady.

Next scheduled rate announcement from the Bank of Canada will be July 15, 2008.

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