Interest Rates Remain Status Quo!
But for how long?
With today's Bank of Canada rate announcement, there was also an indication our economy is stronger than the Bank projected. But weak inflation continues to signify that rates aren't ready to move. Yet.
In contrast, last week the U.S. Federal Reserve announced the U.S economy was stronger than projected, which has them considering a policy shift to end stimulus spending. And that's a signal that interest rates south of the border may go up sooner than expected.
Trial balloon or early warning? It's too early to tell. But given that the new BoC Governor Stephen Poloz begins his term on June 3rd, a Bank of Canada policy shift may be on the horizon as well. Once again, it's time to be a rate-watcher.
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