Thursday

Monetary Policy Report - Bank Of canada

The Bank of Canada released its April Monetary Policy Report today. Growth of the Canadian economy has been in line with the Bank's expectations as set out in the January Monetary Policy Report, but inflation has been higher than expected. The Bank now says that the Canadian economy was operating just above its production capacity in the first quarter of this year. Domestic demand continues to be the main driver of growth in Canada. Core inflation is likely to remain slightly above 2 per cent in the coming months, because of pressures on capacity and the impact of higher core food prices. Inflation is expected to moderate by the end of 2007. The Bank continues to believe that the risks to its inflation projection are roughly balanced, although there is now a slight tilt to the upside. On Tuesday, the Bank OF Canada left its key policy rate unchanged at 4 1/4 per cent (Prime rate 6%). Mortgage interest rates are expected to remain stable for a while. The next meeting is in May. Talk to your mortgage broker about how interest rates change in the Canadian mortgage market. A little mortgage education can save you some money.

2 comments:

Brandon said...

Hello! I wanted to see if you allow advertising on your blog and what your rates are. Thanks!

Brandon


www.mortgageandmortgage.com

Anonymous said...

Brandon, Send an email to rates @rajdhaliwal.ca and I will email you the price.
_RRAAJJ

Copyright | The Mortgage Man Abbotsford Real Estate