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Bill Pinto

Bank Of Canada Cuts Interest Rate

 

The Bank of Canada cut its benchmark interest rate on Tuesday by a half-percentage point to 3 percent, as expected, and signaled that further easing was required but suggested it might pause before cutting again.

First time buyer's, those re-mortgaging and those still considering adding to their mortgage amounts will all feel some ease this morning.

More cuts (believe it or not) are expected by BOC after a short pause to see the end affect of this current stimulus to consumer and corporate spending.

Published Tuesday, April 22, 2008 8:27 AM by Bill Pinto

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