While the Canadian economy continues to grow at a slower pace than expected, last week’s release from the Bank of Canada wasn’t all doom and gloom. Consumer debt and the housing market finally appear to beĀ stabilizingĀ here in the Great White North, at the same time debt concerns in the United States and Europe have begun to dissipate.
As such, the message was clear from Bank of Canada Governor Mark Carney last Wednesday – interest rates aren’t going anywhere anytime soon. Continue reading