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As expected, there was no change in the Bank of Canada press release. Bank prime remains at 3%.

This means no changes in variable rate mortgages or line of credit rates.

Below are the highlights of the Bank of Canada Announcement:

• "The Bank expects global economic activity to grow modestly in 2013 before strengthening over the following two years"
   
• Canada's growth was stronger than initially projected in the first quarter
• Growth in household credit is slowing.
• "Monetary policy stimulus currently in place will likely remain appropriate for a period of time"

Click Here to Read the Full Announcement 

The next Bank of Canada Announcement is scheduled for July 17th, 2013.

Bank prime is 3.00%