THE BANK OF CANADA OF CANADA DID NOT MAKE ANY MOVES ON IT'S RATE THIS WEEK!
Thursday Jul 15th, 2021
In spit of the increase, in the cautionary rate of inflation, the BOC stood firm and didn't raise it's prime rate. Low interest rates has fuelled the Housing Market, with borrowed money being so cheap. We are just now slowly, making a real attempt to go back to a new normal, hoping to not slip into another lockdown-shutting down the drivers of the Economy. People were borowning, huge amounts of money for homes, cars and other luxury items. Then the Economy came to screaching halt. Much like we are slowly taking steps to get the Economy up and running again, it is imperative that the same caution shoud be taken when it comes to rising interest rates or the consequences could be devastating!