Fixed mortgage rates are falling
January 31, 2023 - While rates have been steadily climbing for variable mortgages, fixed mortgage rates have been moving in the opposite direction.
Certain lenders and national brokerages have been gradually dropping rates for select terms since the start of...
Bank of Canada raises interest rate again — but hints that hikes may be done for now
January 25, 2023 - Central bank has been trying to wrestle sky-high inflation into submission. The Bank of Canada has raised its benchmark interest rate again, to 4.5 per cent.
The move was widely expected by economists as the bank tries to wrestle...
Tomorrow the BOC will make an interest rate announcement.
January 24, 2023 - Tomorrow the Bank of Canada will make an interest rate announcement. If you have a fixed-rate mortgage that is renewing soon, the new interest rates could be an increase in your monthly payments, especially if your amortization period is...
“Sticky” core inflation raises the odds of a January rate hike: economists
January 02, 2023 - Canada’s headline inflation reading continued to fall in November, but core inflation rose, increasing the potential for an additional Bank of Canada rate hike in January.
The headline Consumer Price Index (CPI) continued to slow to an...
Bank of Canada increases policy interest rate by 50 basis points, continues quantitative tightening
December 07, 2022 - The Bank of Canada today increased its target for the overnight rate to 4¼%, with the Bank Rate at 4½% and the deposit rate at 4¼%. The Bank is also continuing its policy of quantitative tightening.
Inflation around the world remains...
Bank of Canada has once again raised interest rates
September 07, 2022 - The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%. The Bank is also continuing its policy of quantitative tightening.
The global and Canadian economies are...
Inflation eased in July…kind of. What it means for the BoC’s next rate hike
August 16, 2022 - Led by a drop in gas prices, Canada’s annual inflation rate eased to 7.6% in July, according to data released by Statistics Canada.
That follows a 40-year-high of 8.1% in June, which some observers believe may mark the peak in...
Bank of Canada increases policy interest rate by 100 basis points, continues quantitative tightening
July 13, 2022 - The Bank of Canada today increased its target for the overnight rate to 2½%, with the Bank Rate at 2¾% and the deposit rate at 2½%. The Bank is also continuing its policy of quantitative tightening (QT).
Inflation in Canada is higher...
BOC raised rates once again
June 02, 2022 - The Bank of Canada raises the target for overnight lending rate by 50 basis points.
As was widely expected, the Bank of Canada hiked its target for the overnight lending rate to 1.5% while stating that the Governing Council is prepared to...
Bank of Canada Prepared to Raise Interest Rates “Forcefully”
April 29, 2022 - Targeting high inflation is the Bank of Canada’s top priority, and it’s prepared to raise interest rates “forcefully” if that’s what’s needed.
Bank of Canada Governor Tiff Macklem made the comment in a speech before the...