Interest rates expected to go up October 2015 says Bank of Canada

The Bank of Canada has updated when they plan to increase rates again … about a year from now – so next October? Expect rates to go up 1% then.

Mark Herman, top Calgary, Alberta mortgage broker

The central bank further pushed back the time frame for when it reckoned the economy would reach full capacity, to the second half of 2016 from the mid-2016 estimate in July. It also delayed by one quarter to the fourth quarter of 2016 the time when it expects total and core inflation to settle at its 2 percent target.

Here is the link: http://ca.reuters.com/article/businessNews/idCAKCN0IB1NY20141022

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