Interest Rates Holding Steady
Canadians may not be facing rising interest rates this year as predicted. Some analysts are expecting the Bank of Canada will hold steady in 2015 and 2016. Research company Capital Economics even goes as far as predicting a cut in the benchmark rate next year. The company says tumbling oil prices and the potential of a sharp correction in housing could push Canada towards recession in 2016. Many analysts were predicting a modest hike in rates this fall.