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Jim Flaherty says interest rates are heading higher regardless of central bank actions

General Angela Calla 7 Nov

Jim Flaherty says interest rates are heading higher regardless of central bank actions

Interest rates are going to go up over the long term regardless of what central banks do at the moment, Finance Minister Jim Flaherty said on Thursday after the European Central Bank unexpectedly trimmed rates.

The bank cut rates to a record low earlier in the day and said it would prime banks with liquidity into 2015 to prevent the eurozone’s recovery from stalling.

Flaherty told reporters in Toronto that people “should anticipate over the long term, interest rates will go up regardless of what central banks do now.”

http://business.financialpost.com/2013/11/07/jim-flaherty-says-interest-rates-are-heading-higher-regardless-of-central-bank-actions/

This is one of the many reasons it’s important that you have the right mortgage strategy in place to protect you from payment shock in the future. To ensure you have the best possible mortgage strategy please contact us directly at 604-802-3983 or callateam@dominionlending.ca

Angela Calla

Dominion Lending Cetres