The Bank of Canada (BoC), today, announced a 1.0% increase in its Key Overnight Lending rate. This was 0.25% higher than the 0.75% increase that the market was expecting. This is the largest increase that BoC has made since 1998. The Prime interest rate with major Canadian financial institutions will likely increase from 3.7% to …
June 1 2022, the Bank of Canada raises Key Rate. Today the Bank of Canada (BoC) decided to raise its key rate by 0.50% to 1.50%, which will cause the Prime Rate at major Financial Institutions (FI’s) to increase the same to 3.70%. Economists are now mentioning the word “stagflation” which we have not heard …
June 1 2022 – Bank of Canada Raises Key Rate – How To Survive and Thrive Post Recession. Read More »
Today the Bank of Canada (BoC) raised its key rate by 50 basis points to 1.0%. The Prime Rate of interest at major Canadian FI’s will follow suit and raise their rates to 3.2% from 2.7%. Here is what’s important to know: 1.) Mortgages in Canada have been qualified at a rate that has hovered …
Bank of Canada raises Key Rate 0.5% – What You Need to Know Read More »
The Bank of Canada (BoC) today has decided to raise its key overnight lending rate for the first time since 2018. They have announced a 0.25% increase to bring their rate to 0.50%. They are responding to a persistent inflationary environment that began last year and has not abated. The prime rate of interest at …
Bank of Canada Raises Key Rate 0.25% As Expected Read More »
The Bank of Canada (BoC) made its eighth scheduled and presumably final interest rate decision for the calendar year. Economists and financial markets were on high alert for signs of changes to come next year and clues as to when. As expected again no change was made to the benchmark rate. It remains at 0.25% …
Bank of Canada Holds Benchmark Rate the Same in Their Final Decision of 2021 Read More »
It has been a while since we have written an interest rate note because of the seemingly everlasting pandemic conditions which have created a “no news” cycle for interest rates. The talk of interest rates climbing has recently become more prevalent and a commentary on this is now worthy. The Bank of Canada (BOC) yesterday …
October 2021 Bank of Canada Key Rate Announcement Read More »
At 10 am EST the Bank of Canada (BoC) made its 10th interest rate decision announcement of the year. Eight scheduled announcements is the norm, but this has been a year of anything but normal. BoC has held the their key overnight lending rate the same at 0.25%, which it calls their “lower bound”, …
December 9, 2020 Bank of Canada rate announcement Read More »
Earlier today, the Bank of Canada (BoC) made its eighth interest rate decision of the year. In a normal year there are eight interest rate announcements in total but this is far from a normal year, and there will likely be ten announcements. The news is generally positive, considering we are in the midst of …
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 »
