The Bank Of Canada announced on Wednesday November 4th, 2013 that they intend to try and keep targets for a continued overnight rate of 1%.
Indications from the announcement cited the expansion rate of the global economy as a whole has been a modest one, within the Bank of Canada’s expectations, with further belief that the US Economy seems to be picking up momentum.
The Bank of Canada also indicated that the housing sector has been stronger than expected, but consistent with the demographic data, and favorable financing conditions. The Bank also stated the belief in a soft landing withing the housing market. Most likely in step with the gradually rise of rates upwards.