Interest Rate Remains Unchanged

Bank of Canada met the expectations and maintains overnight rate target at ¼ also after the December 8. Officials confirmed commitment to hold the rate till the beginning of Q3 2010.

Inflation slightly exceeded bank's predictions, also the GDP growth didn't meet expectations, however the overall recovery remains consistent with bank's view. Next scheduled date for announcing the rate is 19 January 2010.

Low interest rate will drive the housing sector record sales for some months more, while buyers can enjoy more than affordable mortgages.

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