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An Interesting Article From: Canadian Real Estate Association

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Bank of Canada Sees Evidence of Soft Landing in Housing Market CREA

The Bank of Canada announced on January 22nd 2014 that it was keeping its trend-setting overnight lending rate at 1 per cent, where it has been held since September 2010.

Since the Bank’s last announcement in early December, inflation in Canada has moved even further below the Bank’s 2 per cent target. Moreover, the Bank indicated it is now expected to remain lower for even longer and not return to target for “about two years.”

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