No news is good news – the Bank of Canada (BoC) decided today (Sept 6) to keep its benchmark (overnight) interest rate steady at 5.00%, putting a hold on a policy that resulted in 10 increases stretching back to March 2022. At the Bank’s last meeting in July, it raised the rate 0.25% due to …
Today the Bank of Canada (BoC) resumed its monetary policy tightening campaign and increased its Key rate by 0.25%. This lifts their policy rate to 4.75% and will raise the Prime rate of interest at major financial institutions (FI) to 6.95%. BoC had held the line with no rate changes since January as it thought …
Bank of Canada Increases by 0.25% Today – Slight Surprise Read More »
The Bank of Canada (BoC) has today decided to place a hold on any change in its Key Rate, and is holding at 4.5% (Prime rate of interest at major financial institution’s 6.7%) for the first time in nine announcements (March 2022). This is as opposed to the US Federal Reserve which has indicated clearly …
BoC decides to leave Key Rate as is Today, March 8, 2023 Read More »
The Bank of Canada (BoC) has raised its Key Overnight Lending rate by 25 basis points, bringing it to 4.50%, and the Prime rate of interest to 6.7%. This is the BoC’s eighth consecutive rate hike and was anticipated by markets and many economists. Looking ahead, the Bank said it “expects to hold the policy …
BoC Today – Are we at an End of a Rising Bank Rate Cycle? Read More »
The Bank of Canada today increased its target for the overnight rate to 4¼% impacting the Prime rate at major FI’s to increase to 6.45%. The Bank is also continuing its policy of quantitative tightening – releasing debt previously purchased from its balance sheet. This rate increase caps off a year of rate increases not …
BoC Rate Increase Today but Signs of Rates Plateauing Read More »
Today the Bank of Canada (BoC) raised its key rate by one-half of one percent (0.5%). Many experts were thinking that the BoC was going to announce a 0.75% increase and are now reading into the news that we may be near the end of tightening (raising) interest rates. The equity investing community would like …
Today the Bank of Canada has increased its key overnight lending rate to 3.25%, a 0.75% increase. Overall, this year the BoC has raised its key rate by 3.0% since March, rivaling the mid-1990s in rate increases. Per the BoC: “The Governing Council remains resolute in its commitment to price stability and will continue to …
Bank of Canada raises its Key Rate by 0.75% today Read More »
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 …
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 »
In a news releases today Genworth Canada and Canada Guaranty have both confirmed that they will not follow suit with Canada’s main mortgage insurer, CMHC, in tightening lending guidelines for mortgages. Genworth MI Canada Inc. (TSX: MIC) said: “it has no plans to change its underwriting policy related to debt service ratio limits, minimum credit …
