Bank of Canada Holds Key Interest Rate
Home buyers and sellers now know that the key interest rate will be remaining steady for the time being, or at least until the Bank of Canada's next meeting September 4th. This is the 6th time in a row that the Bank has decided to maintain the overnight rate citing a sluggish economy and global trade tensions. The Bank positively noted that "Recent data show the Canadian economy is returning to potential growth ... however, the outlook is clouded by persistent trade tensions.