Fall 2023 is here and the much anticipated announcement from the Bank of Canada has been released since their last update nearly two months ago. Today the Bank of Canada announced it’s decision to pause on raising the overnight rate, keeping it at five percent. But that does not mean it’s game over on the […]
Market predictions came true today as the Bank of Canada maintained it’s key interest rate (also known as the ‘overnight rate’) at 4.50%. But there’s much more to know and understand than the usual press release which arrived this morning at 10:00 (ET). So let’s dive in.
As expected, the Bank of Canada announced it would hold its key interest rate at 4.50% today, opting to pause and further assess the effects of previous hikes on the economy. This is the first time since the increases began a year ago, back on March 2, 2022. This also means that most lenders Prime […]
February 2nd, may have come and gone with Punxsutawney Phil not seeing his shadow earlier this year, forcasting an early spring. But the fun beloved tradition of the weather predicting animal was obviously wrong. Based on today’s Bank of Canada interest rate annountment increasing the key lending rate, it feels like Groundhog Day, where we […]
The one-two-punch of supply chain issues and the war in Ukraine has pushed inflation in Canada to its highest level in 30 years and spurred the Bank of Canada to move toward a tighter monetary policy. On June 1, the Bank announced a second consecutive .50% increase to its policy rate (the third increase in […]