Blog by Cher Ewing

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Interest rates to remain low and hold for longer

The Bank of Canada announced on October 22nd, 2014, that it was holding it's trend-setting overnight lending rate at 1%.

As of October 22nd, 2014, the advertised five year lending rate stood at 4.79%, unchanged from the previous Bank rate announcement in September and down 0.55 percentage points from 1 year ago.

The next interest rate announcement will be on December 3, 2014.  The next update to the monetary policy report will be on January 21, 2015.

(CREA 10/24/14)