How the Bank of Canada's Interest Rates will Affect You
Posted by Ken Richter on
The Bank of Canada has decided to hold interest rates at their current rate for September, though a rate hike in October seems likely.
Global News writes, "despite the uncertainty around NAFTA, the BoC appeared to take comfort in the fact that business investment and exports are increasingly stepping in as engines of economic growth. Meanwhile, the bank said, the housing market has begun to stabilize after higher interest rates and changes in housing policy like the tighter federal mortgage rules that kicked in on January 1st, 2018.Canadian families are also adjusting to higher interest rates, with the household debt-to-income ratio beginning to edge down, the bank said. At the same time, a healthy job market and higher wages are helping to support…
1010 Views, 0 Comments