No changes to prime rate!

The Bank of Canada has left interest rates at 1% due to the continuing worldwide slowing of economies.

According to the Bank, “the economic expansion in the United States continues at a gradual pace, Europe is in recession and its crisis, while contained, remains acute.” The Bank of Canada also stated “In China and other major emerging economies, growth is decelerating somewhat more quickly than expected from previously-rapid rates.”

 No change is expected in the near future.