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AUGUST REAL ESTATE STATISTICS

/files/August2013StatReport.pdf

Bank of Canada Interest Rate Decision - September 4, 2013

The Bank of Canada announced this morning that it is maintaining its target for the overnight rate at 1 per cent. Rising long-term Canadian interest rates, along with somewhat soft economic growth through the first half of 2013, have taken some urgency out of future monetary policy tightening. In particular, higher long-term rates will further slow growth in household debt via higher mortgage and other key lending rates which will allow the Bank to push increases in its overnight out to late 2014 or early 2015.