Today marks the 9th consecutive meeting where the Bank of Canada held interest rates.
If you have a variable rate mortgage or line of credit … there is no change to your rate.
Trade conflict and uncertainty in the global economy are the concerns that the Bank of Canada continue to speak of.
Third quarter growth slowed in Canada however consumer spending expanded. “Housing investment was also a source of strength, supported by population growth and low mortgage rates. The Bank continues to monitor the evolution of financial vulnerabilities related to the household sector.” the announcement says.
The Bank continues to watch trade conflicts and Canada’s ability to weather any storm that stirs, with a particular eye on Canadians spending and housing activity.
The next interest rate announcement is January 22, 2020.