The Bank of Canada announced today that it is holding its key rate steady. Great news if you have a variable-rate mortgage or home equity line of credit, and for those looking to buy, renew or refinance.
The announcement noted that “risks to the inflation profile has not materially changed. Risks to financial stability remain elevated, but appear to be evolving as expected. Weighing all of these risks, the Bank judges that the current degree of monetary policy stimulus remains appropriate.”
The next rate-setting day is July 15th.