BoC leaves overnight rate at 1.00%, nudges up economic outlook As widely expected, the Bank of Canada (BoC) left its overnight interest rate unchanged at 1.00% for a third consecutive meeting.

Concern over rising consumer debt levels is prompting Ottawa to make three new changes to Canada’s mortgage rules. Finance Minister Jim Flaherty announced Monday that new federal rules will reduce the maximum amortization period to 30 years from 35 years for government-backed insured mortgages with loan-to-value ratios of more than 80 per cent.