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Written on January 20th, 2021

At 10 am eastern, the Bank of Canada made its first interest rate decision of 2021 and presented its newest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.

Contrary to some speculation, the Bank did not make a “micro-cut” to its overnight rate, which is holding steady at 0.25%. Even so, borrowing costs for your clients remain extraordinarily low and provide a great incentive for home purchases to start the year.