Key interest rate stays put! BoC announced prime lending rate remains steady at 3.00%. Next BoC meeting is scheduled for Sept 5, 2012.

Rate Prediction:

A growing number of analysts have been backing up the time line for an interest rate hike by the Bank of Canada. Through the last quarter of 2011 and the first quarter of this year the call was for a 25 to 50 basis point hike by late 2012 or early next year. Now that’s being rolled back to the middle of 2013.

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