In a pivotal decision, the Bank of Canada maintains its overnight rate at 5%, emphasizing a commitment to quantitative tightening. As economic indicators fluctuate globally, the impact resonates within Canada’s borders.
Continue reading →Overnight
Real Estate Market Impacts: Bank of Canada Holds the Line at 5%
In a recent announcement, the Bank of Canada has decided to keep its overnight rate target at 5%, and these changes have significant implications for the real estate market in North Vancouver, BC, and beyond. Moreover, understanding the real estate market impacts is vital for homeowners, homebuyers, and home sellers.
Continue reading →Bank of Canada Rate Announcement – June 7th 2023
The Bank of Canada today increased its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is also continuing its policy of quantitative tightening.
Continue reading →Bank of Canada Rate Announcement Apr 12th, 2023
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.
Continue reading →Bank of Canada Rate Announcement Mar 8th, 2023
“In Canada, economic growth came in flat in the fourth quarter of 2022, lower than the Bank projected…Employment growth has been surprisingly strong, the unemployment rate remains near historic lows, and job vacancies are elevated… Overall, the latest data remains in line with the Bank’s expectation that CPI inflation will come down to around 3% in the middle of this year.”
Continue reading →Bank of Canada Rate Announcement Apr 13th 2022
The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%. The Bank is also ending reinvestment and will begin quantitative tightening (QT), effective April 25. Maturing Government of Canada bonds on the Bank’s balance sheet will no longer be replaced and, as a result, the size of the balance sheet will decline over time.
Continue reading →BANK OF CANADA RATE ANNOUNCEMENT APR 21ST, 2021
Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program.
Continue reading →BANK OF CANADA RATE ANNOUNCEMENT JAN 20TH, 2021
The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance
Continue reading →BANK OF CANADA RATE ANNOUNCEMENT DEC 9TH, 2020
The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent, with the Bank Rate at ½ percent and the deposit rate at ¼ percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week.
Continue reading →Bank of Canada Interest Rate Announcement – March 27, 2020
For the second time this month, the Bank of Canada has lowered its overnight policy rate before its regularly scheduled announcement date, taking the overnight rate down a further 50 basis points to 0.25 per cent.
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