The Bank of Canada‘s Mark Carney today, in a speech, issued his strongest warning that his commitment to low rates was “expressly conditional on the outlook for inflation”.
Canada’s latest ‘core inflation’ report issued last week gave an indicator of 2.1 percent. This is above the target rate of 2 percent.
It is my suggestion that for those who are thinking of taking a fixed rate term contemplate in doing it sooner than later. The next meeting of the Bank of Canada‘s governors is April 20, 2010. I don’t think they will move then but it is possible on the meeting after that.
Are you thinking of locking into a fixed rate? Will you do it now or still continue to wait?
Comments and feedback is always welcome.