Bank of Canada will hold current level of policy rate until inflation objective is achieved, continues quantitative easing

Author: External Author | Categories: Certified Financial Planner , First Time Home Buyer , First Time Home Buyer Mortgage , Mortgage Services , New to Canada Mortgage

The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.

Original Article Source Credits:   Bank Of Canada , https://www.bankofcanada.ca/

Article Written By:  NA

Original Article Posted on:  January 20, 2021

Link to Original Article:  https://www.bankofcanada.ca/2021/01/fad-press-release-2021-01-20/

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