Today's central bank announcement

This morning, the Bank of Canada made its second interest rate decision of 2021.

Prior to doing so, many economists speculated that the Bank would hold its overnight rate steady but also signal its intention to begin tapering the asset purchase activity that has been the cornerstone of monetary policy since the pandemic began.

They were partly right. The Bank held its overnight rate steady as expected, but did not budge in its commitment to using Quantitative Easing to keep interest rates low across the yield curve. All of this is great news for home buyers.