Bank of Canada – No Change; Prime lending rate remains at 3%

General Denise Dunkley 25 Jan

The Bank of Canada decided to leave the overnight lending rate, and we’re all but assured that rates will remain at current levels for the remainder of 2012.  Sure, things could change but for rates to trend upwards would mean that the BOC is no longer concerned about our fragile economy.  There was also good news – the Minister of Finance said there would be no changes to the  “mortgage rules” at this time.  With the caveat that Finance is prepared to intervene if necessary. CURRENT BANK OF CANADA CONSUMER PRIME LENDING RATE IS 3.00%