Bank of Canada Rate Announcement - December 06, 2011

For the 10th straight time since last October, the Bank of Canada again announced that it is leaving its target overnight interest rate at 1%, and said, "...conditions in global financial markets have deteriorated as the sovereign debt crisis in Europe has deepened.." The bank indicated in its media statement that additional measures will be required to contain the Eurpoean crisis..

Following this news, chartered banks and other financial institutions are expected to leave their prime lending rate at 3%.

Next Bank of Canada rate announcement – January 17, 2012.

Click here for the full Bank of Canada report.

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