Updated Tue. Apr. 25 2006 11:29 PM ET CTV.ca News Staff The Bank of Canada boosted its trend-setting overnight rate by a quarter of a percentage point to four per cent on Tuesday. The latest hike will impact the prime interest rate charged by commercial banks, affecting variable mortgage rates, as well as the cost of car loans and lines of credit. This marks the sixth consecutive rate increase by the Bank of Canada since last summer -- when it was 2.5 per cent -- and some are wondering how many more rate hikes could be on the way. In its statement today, central bankers said 'some modest further increase in the policy interest rate may be required to keep aggregate supply and demand in balance and inflation on target over the medium term.' The Bank of Canada said the global economy is strong. 'At the same time, global competition and the past appreciation of the Canadian dollar continue to pose challenges for a number of sectors of the economy.' Meanwhile, the core infl
StratfordMortgageBroker.ca - Mortgage Wellness Subscribe to this News Feed