Interest rates will stay at record lows until 2023, Bank of Canada predicts

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In a candid press release on July 15, the Bank pledged to hold its overnight lending rate steady at 0.25 per cent until the country’s inflation returns to its target of 2 per cent.“It’s going to be a long climb out, and we recognize that households and businesses are facing an unusual amount of uncertainty,”“Against that background, we are being unusually clear that interest rates are going to be low for a long time.

or until Mark Carney deems otherwise?

Let the thievery continue! This guy is as bad as the last two.

This is the main crux of the department of finance's debt strategy. Throw. provinces, CMHC etc in there as well. At the end of the day countries can only accumulate so much debt before institutional investors cut em. Wait 1 year for a tsunami of global defaults on sovereign debt.

There's no nation like Do-Nation

Of course. For any savers, this is bad news. For all others who like cheap debt, it is a win.

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Want to refinance into a record-low mortgage rate? Do these 6 thingsICYMI - Want to refinance into a record-low mortgage rate? Do these 6 things that's not all true and it doesn't add the 3month min penalty. CMHC has changed the limits but the other 2 insurers haven't- also why aren't you telling people that deferring their mortgages lasts until the end of the term not the end of the mortgage. expect a 6mo balloon payment
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