Can Bank of Canada increase its interest rates without looking at the south of border?

April 14, 2010

A recent news has it that Bank of Canada did rate changes ahead of Federal Reserve in the past. They then eventually reversed them! Check out this news item below:

http://www.smarthomeowners.ca/News/Latest-News/Anticipation-of-Bank-of-Canada-rate-hike-fuelling-mortgage-increases-high-dollar.html

Fixed mortgage rates are on the rise  from all major banks. We will see more banks joining RBC, Scotiabank and CIBC tomorrow.