Today's central bank announcement
At 10 am eastern, the Bank of Canada made its first interest rate decision of 2021 and presented its newest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.
Contrary to some speculation, the Bank did not make a “micro-cut” to its overnight rate, which is holding steady at 0.25%. Even so, borrowing costs for your clients remain extraordinarily low and provide a great incentive for home purchases to start the year.
We capture the highlights of the Bank’s observations on growth/inflation projections here
First National stands ready to make 2021 another year of mutual growth and achievement. We look forward to continuing to demonstrate our commitment to be our best for you, so you can be your best for your clients
Senior Vice President, Residential Mortgages