Mortgage Logic

Bank of Canada Updates

Bank of Canada Regularly Scheduled Rate Announcement Today – April 15, 2020

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 …

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BoC Leaves Key Rate Unchanged Again, Continues High Wire Act

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 …

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January 9, 2019 – Bank of Canada Makes No Change to its Key Rate

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 …

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Economy Not as Rosy as Bank of Canada Had Thought

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 …

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Bank of Canada Takes Advantage of Strong Recent Economic Numbers

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 …

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Bank of Canada Delivers Increase Today – January 17, 2018

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 …

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