Bank of Canada Stands Firm at 3%

Well, the Bank of Canada bucked most predictions of a 1/4% rate cut and held the overnight rate firm at 3%. Now, as I mentioned the other day, there’s a serious split between the economies of the east and the west. I think the fact that the BOC chose to hold the rate steady, rather than drop the rate to encourage growth in the East gives support to the growing economic and political base that the West has become.

I think we’re going to see another cut in the next couple of meetings, but that overall we’ll be up a bit by this time next year.


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