Bank of Canada hikes key interest rate
6/1/2010 at 12:21 PM
By no means a surprise, but the Bank of Canada today officially increased it's benchmark interest rate to 0.5% from 0.25%.
What is a little interesting is that in their wording they hinted that further increases are not inevitable. Some had been speculating in recent weeks that we might be in for a series of increases.
How do you anticipate the rate hike having an effect on you? For those about to purchase a home, does it in any way effect the type of home/size of mortgage you'll be looking at?
Full story:
http://www.financialpost.com/news-sectors/story.html?id=3096853