Posted by: Daryl & Wendy Ashby | December 16, 2014

Cameron Muir Speaks Out

With the overnight Bank of Canada rate recently lowered to one per cent, Cameron is going on record as stating this marks the longest period without a change in the Bank’s policy rate since the 1950’s.

With every rainbow there has to be some rain and as Cameron has put it; “The most pressing development for the Canadian economy, and therefore monetary policy, is the recent downturn in oil prices. The consequences for an oil-producing country like Canada can be complex and will likely be felt on inflation through lower energy products. He is suggesting a delay in inflation returning to the Bank’s 2 per cent target starting next year with perhaps a 25 basis point increase.

That should translate to a modestly higher mortgage rate in 2015.”

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