Inflation figures should be good news for homeowners
The latest figures show that Canada’s inflation was under control in September. The consumer price index fell to 2 per cent last month; placing inflation firmly within the Bank of Canada’s target. When governor Stephen Poloz delivers the bank’s monetary policy report this this Wednesday he is not expected to make any shock announcements on interest rates; in fact the inflation figure will influence keeping interest rates lower for longer. Of course inflation is not the only concern; jobs, exports and the world economy are all shaping monetary policy; however it could still be towards the end of 2015 before we start to see interest rates creeping up.