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The Bank of Canada held its overnight rate target steady Wednesday, a non-move widely expected by the markets, and indicated it expects to remain on hold for the foreseeable futureThe Bank of Canada held its overnight rate target steady Wednesday, a non-move widely expected by the markets, and indicated it expects to remain on hold for the foreseeable future
The central bank maintained its benchmark rate at 4.25 per cent. It was the second straight rate announcement in which the bank held the rate steady, following seven consecutive 25-basis-point increases that began in September 2005. (A basis point is one-hundredth of a percentage point.) The rest of the article is enclosed discussing all the circumstances surrounding the decision for your interest.
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With bond yields lowering considerably over the past 2 weeks,... the lenders are finally responding and lowering their rates. Firstline put their long term rates down today, along with HSBC lowering all of their's.Scotia's posted rates dropped today so their discounted should drop tomorrow or Monday, along with TD/CT. First National has been holding their rates high and not dropped yet either. They all wait as long as they can and watch each other very closely.
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