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Bank of Canada maintains key interest rate at 0.25%.
Matthew Robinson • December 9, 2020
Bank of Canada Confirms Commitment To Low-Interest Rates
The Bank of Canada today kept its target for the overnight rate at 0.25%. After dropping its overnight rate three times in March, the Bank has held the line on rates since then, including today, but continues its massive quantitative easing program to support market liquidity.
Anyone who requires a mortgage should be pleased with this announcement because the Bank continues to be committed to low rates for the foreseeable future. Both fixed and variable rates will remain at their current historic lows until the economic recovery is well under way.
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