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Cory Kline, AMP - Mortgage Agent
Cory Kline, AMP
Mortgage Agent
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2014 Prime Rate Update

Updated Monday, January 27, 2014
Views (5267)

Bank of Canada maintains overnight rate target at 1 per cent

Bank of Canada, Jan 22, 2014
Ottawa

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.

Inflation in Canada has moved further below the 2 per cent target, owing largely to significant excess supply in the economy and heightened competition in the retail sector. The path for inflation is now expected to be lower than previously anticipated for most of the projection period. The Bank expects inflation to return to the 2 per cent target in about two years, as the effects of retail competition dissipate and excess capacity is absorbed.

Monitary Policy Report

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Cory Kline, AMP
Neighbourhood Dominion Lending Centres
 
Cell / Text: 705-794-1283
Fax: 1-877-812-6190
 
Mortgage Agent, FSCO # M09001239
Brokerage FSCO Lic. # 11764
 

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