Bank of Canada expected to Lower Interest Rates

By
Mortgage and Lending with VERICO Designer Mortgages Inc.

Bank of Canada has hinted that they may cut interest rates again.

Early today in Toronto, Bank of Canada Senior Deputy Governor Paul Jenkins stated, "Some further monetary stimulus will likely be required to achieve our 2 percent inflation target over the medium term."

The Cdn Central Bank cut its benchmark overnight lending rate to 2.25 percent on Oct. 21.

Some economists expect that the Bank of Canada will cut their overnight rate a half point to 1.75 percent on Dec. 9. This would be the lowest since 1960.

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Gina Burgio, Mortgage Agent
VERICO Designer Mortgages Inc.
Toll Free: 1-877-345-6265
Fax: 1-877-345-6256
Email: gina@ginaburgio.com
www.ginaburgio.com

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Toronto For Sale By Owner 11/13/2008 01:43 AM
Topic:
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Location:
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Groups:
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Tags:
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Rainmaker
996,108
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Gina:  Lowering interest rates is a good thing.  So... question:  When are they going to start handing out free samples ?

Nov 13, 2008 12:35 AM #1
Rainmaker
336,104
Steven Nickens
Island Sotheby's International Realty - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Aloha Gina,

I heard that Europe is doing the same.  I heard this will help the American dollar.

Steve

Nov 13, 2008 01:01 AM #2
Rainmaker
746,252
Michael A. Caruso
Surterre Properties - Laguna Niguel, CA

This is a good thing.  We need a worldwide effort for stimulus to stem off the potential for a depression.

Nov 13, 2008 01:06 AM #3
Ambassador
1,336,621
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Gina,  Looks like the Bank of England is going one better.  They're considering lowering interest rates to zero.

Nov 13, 2008 06:35 AM #4
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Gina Burgio

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