The Bank of Canada holds the rate steady. Your variable rate mortgage remains unchanged.

The mood of the announcement now paints a different picture than the last year’s hinting of increase. Now it says ‘CPI inflation to be slightly below the 2% target through most of 2019’, (typically above 2% mean they raise rate) and ‘Given the mixed picture that the data present, it will take time to gauge the persistence of below-potential growth and the implications for the inflation outlook.’

And hey, it’s an election year, so do they really want to rock the boat? Next rate announcement scheduled April 24.