Today, Wednesday June 3rd, the Bank of Canada (BoC) made its sixth interest rate announcement this year, the first under its newly appointed Governor Tiff Macklem. The BoC has repeatedly stated that it has no intention of reducing the rate below its where it is at currently: 0.25%. The BoC did state that the impact […]
BoC Bank Rate Announcement – Wednesday June 3rd, Tiff’s first Read More »
Today was a regularly scheduled announcement date for the Bank of Canada (BoC). After an unprecedented month of March when the BoC chopped their key rate three separate times for a total decrease of 1.5%, there was no change in their key rate today. The BoC press release today was very important and I encourage
Bank of Canada Regularly Scheduled Rate Announcement Today – April 15, 2020 Read More »
The Bank of Canada (BoC) today announced that it will not be making any changes at this time to their key rate, which directly affects the prime rate of interest with major financial institutions. They have cut their growth forecast to 1.3% from 1.7% for Q1 2020. Consumer spending and confidence is unexpectedly weak. BoC
Bank of Canada Rate Announcement January 2020 Read More »
The Bank of Canada (BoC) today decided to hold its key benchmark overnight rate at 1.75%. Governor Stephen Poloz is one of the few central bankers that is resisting the global direction toward easier monetary policy by not cutting his central bank rate. The rate is unchanged now for their ninth announcement meeting in a
Bank Rate Announcement December 4, 2019 Read More »
Stephen Poloz, Bank of Canada Governor, announced this morning that BoC’s key rate will remain unchanged for the time being. This was an expected call after Canada’s second quarter economic performance turned out better than expectations and better than first quarter results. There is a tight rope being walked to maintain balance by BoC. On
BoC Leaves Key Rate Unchanged Again, Continues High Wire Act Read More »
The Bank of Canada has decided to leave its key rate untouched (at 1.75%) with its announcement today. As expected, their hawkish view on ramping up rates has cooled off. Major FI prime rates will likely stay at 3.95%. The Canadian economy is not performing as expected right now for the following reasons: • Lower
January 9, 2019 – Bank of Canada Makes No Change to its Key Rate Read More »
Today the Bank of Canada (BoC) decided to hold its key lending rate unchanged. This decision is best summed up by Financial Post’s Kevin Carmichael as follows: “Canada’s central bank took a break from raising interest rates on Dec. 5. The pause could last longer than many were expecting, mostly because policy makers are worried
Economy Not as Rosy as Bank of Canada Had Thought Read More »
The Bank of Canada (BoC) today announced it will increase its benchmark key overnight lending rate by 0.25% to 1.5%, thus likely causing major financial institutions to raise their prime rate by same. The BoC is taking an opportunity to raise the rate now in order that it continue to build its tool chest to
Bank of Canada Takes Advantage of Strong Recent Economic Numbers Read More »
The Bank of Canada (BoC) today maintained its target for the overnight rate at 1 1/4 per cent. The Bank Rate is correspondingly 1 1/2 per cent and the deposit rate is 1 per cent. Pre-indications of the bank not pursuing a rate increase were given by bond yields having dropped since mid-February. The BoC
Bank of Canada Announcement – March 7, 2018 Read More »
The Bank of Canada today raised its key lending benchmark rate a quarter point to 1.25 per cent. This is “an historically low setting that nonetheless will seem high to anyone who got used to post-crisis borrowing costs that were closer to zero.” per Kevin Carmichael of the Financial Post. The BoC has acknowledged that
Bank of Canada Delivers Increase Today – January 17, 2018 Read More »
