Bank of Canada Signals Low Rates Until 2023, Unveils Changes to QE Program

Mortgage shoppers take note: Cheap money is here to stay, at least for the next two years, the Bank of Canada reaffirmed during its interest rate decision on Wednesday.

The BoC had previously provided guidance that rates would remain at their effective lower bound—currently 0.25%—“until 2 percent inflation target is sustainably achieved,” but went a step further this time by providing a specific year.

Original Article Source Credits:   CANADIAN MORTGAGE TRENDS , https://www.canadianmortgagetrends.com/

Article Written By:  Steve Huebl

Original Article Posted on:  October 29, 2020

Link to Original Article:  https://www.canadianmortgagetrends.com/2020/10/bank-of-canada-signals-low-rates-until-2023-unveils-changes-to-qe-program/