Major Banks Forecast Rate Hold
Monday, 15 August 2011 13:53 - Propertywire Canada - It was only a month ago, on the heels of the Bank of Canada's last interest rate announcement made in July, that many had predicted a rate hike was all but certain in the fall. In fact, many even pointed to Mark Carney himself suggesting a rate hike- in the form of the language he used during the rate announcement as a signal of things to come.
Now, a few short weeks, later there has been major global financial turmoil in the form of renewed European debt crisis and US debt downgrading, and a major roller coaster ride on the international markets. The end result is we are in much the same place we were before. Many, including BMO, TD, Scotiabank and RBC, are modifying their rate forecasts to suggest that rates will hold through to 2012- to Q2 at least. Read More ...