We can thank a slower than expected U.S. recovery and the European debt crisis… With all this uncertainty in the global economy, it appears interest rates won’t go up until there is some positive news…
Most experts fee that no change will occur til later this year and some are even forecasting no rate hikes til next year.
The BOC did hint they do want to raise rates but are being cautious in their approach. Here’s a report from CBC.ca.
Enjoy the low rates..