No Bank of Canada Rate Change - June 9, 2021

Dated: June 9 2021

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The Bank of Canada announced today that it is maintaining the benchmark rate. With government restrictions easing and vaccinations ramping up, the Bank anticipates the economy will rebound strongly. While housing activity may moderate, it is expected to stay elevated. The Bank noted that unemployment continues to be well below our pre-pandemic levels, and there continues to be uncertainty around new variants.

While the outlook is positive, the Bank has determined that the recovery continues to require extraordinary monetary policy support, and they will continue to do so until slack in the economy is absorbed and the 2% inflation target is sustainably achieved, which they continue to anticipate will be in the second half of 2022.

The next rate-setting day is September 8th, 2021.

Source:  Invis Financial

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Diane Birk

I believe that each client and each real estate transaction are unique, and deserve my full attention and experience. I do not work with a team of assistants, as I feel you deserve to work with the re....

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