Dear Clients,
We always touch on where the overnight lending rate is going – that’s obviously a major function of these emails. This week, we hit the jackpot:
Stephen Poloz, Governor of the BOC, did an interview on CBC’s The Current, providing some hints at what the future will hold for our overnight lending rate. This one comes straight from the horse’s mouth. Take 20 minutes and have a listen to what he had to say HERE.
RATE UPDATE: No reason to change your variable rate at this time.
Despite the slightly encouraging detail with regards to full-time employment, a still-anemic jobs market and a tick up in the unemployment rate to 7.1% gave the Bank of Canada further reason to stay the course and maintain the 1% overnight lending rate. Read Avery Shenfeld’s analysis HERE.
If you are looking for something different this weekend, try Hamilton’s Farm Crawl. Be sure to bring your cameras because photo ops abound at Farm Crawl.
If that isn’t weird enough, maybe you might like to take in one of the many excellent productions at Hamilton Fringe. The 11-day festival kicked off last night.
*Tell your friends, colleague and family that rates are on a downward move.
Have a great weekend!
