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Bank of Canada Successfully Sustained 1% Target Interest Rate

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The target rate of Prime Business rate is 3% which started from November 10 until April 14, 2014. Luckily, the Bank of Canada maintained 1% target rate. They maintained 1% target rate from November 10 until April 14, 2014.

 

It is a fact that maintaining target rate is not an easy thing to do. There are several factors that can trigger constant changes in the movement of target rates. It is one main reason why most of people like to get updates regarding on rate movement.

 

The Bank of Canada previously announces that they will maintain the key interest rate which is 1% until the first week of June. The bank understands well the need of many people for favorable rate movement. There are several bank experts who fore cast that the public and banks must expect to go through several economic changes and situations in the near future. Economic breakdowns, movements and many more can relatively trigger sudden changes in the rate movement or key target rate.

 

Inflation is also one factor that can cause changes in the key target rate. As of now, housing is still considered as one of the trickiest industry in the state. There are several experts saying that the level of household debt will slowly to cool off. However, any economic degradation may cause or render some vulnerable changes.

 

As of now, the Bank of Canada predicts that there is now any reason that might cause any sudden changes in the rate.  Public expect to have 1% prime rate until some changes in the economic situation.

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