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Bank Of Canada Expected To Cut Interest Rates

UPDATE: APR 22, 2008 RATE ANNOUNCEMENT

Don’t forget, the Bankof Canada meets tomorrow, April 22nd, 2008. The Bank is expected to cut interest rates by another 50 basis points (0.5%) to generate some stimulus in the weakening economy. This is of course great news for anyone on floating rate mortgages and buyers of real estate. With MLS listings at numbers we haven’t seen in years, buyers have more choice than ever when looking for that perfect place.

Be sure to check back tomorrow to see my post about the rate change meeting and my commentary.

Tim Ayres


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  • I really agree with you. Hopefully Bank of Canada will really lower key rates as it is expected. I am working as a Toronto realtor
    and I can already see that business is struggling. Hope this could give a positive impulse to the market because as we can see it was not enough in US.