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Bank of Canada holds key interest rate at 1.75% as economic outlook dims

The Bank of Canada took a cautionary approach to the overnight rate.

NO CHANGE at this time, comments and language from the Governor of the Bank of Canada is a bit more cautious, they are watching the overall economy, Canadian Dollar, Oil prices (recent actions taken by the Alberta Government), Global Trade, etc.  Expectations for 2019 are at least 2-3 prime rate increases, however I will continue to monitor all the above and send more details as they become available.

Here are some comments from the Bank of Canada and a link to article in the Financial Post.

Still, the Bank of Canada is more cautious than it was a few weeks ago. It concluded its statement by saying the pace of interest-rate increases will be determined by a “number of factors,” including the effect of higher borrowing costs on spending, the trade wars, the “persistence” of the oil-price shock, and the central bank’s “assessment of the economy’s capacity.”

That’s a longer list than last time.

https://business.financialpost.com/news/economy/bank-of-canada-holds-interest-rate-at-1-75-per-cent

 

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