Today’s central bank announcement

At 10am eastern, the Bank of Canada made its seventh interest rate decision of the year.

Of equal importance, the Bank of Canada also shared somewhat encouraging thoughts about the revival of the Canadian economy.

To provide insight First National summarized the Bank’s statements here for easy reference.

While it’s necessary to be cautious about the future given the unpredictable nature of COVID-19, we take heart in the fact that the central bank indicated that global economic activity is picking up, financial conditions have improved and there has been an initial bounce-back in employment – a key driver of home purchasing activity.