No Guarantee With Bank of Canada Guarantees

Remember back in April when the Bank of Canada dropped it’s overnight rate to .25% and guaranteed they wouldn’t raise rates until June of 2010? Remember? They said “Scout’s Honour!”

The search engines remember. Here’s our post from April

Since we all have short memories and things change, I guess a guarantee isn’t worth what it used to be. The best way to describe something like this is “It won’t change…until it changes!”

Check out the latest from the Financial Post (ok it’s two weeks old…sue me) with an article on how John Carney backtracks a bit on his interest rate guarantee

Have a great weekend! Get your applications in if you want to get a rate hold.