The Bank of Canada announced today that it will be holding the line on any Bank interest rate changes at this time. With a slower Canadian economy (projected GDP growth of 1.5%) vs. the US (projected GDP growth of 2.8%), seek there is definitely a divergence in trend between the U.S. and Canada. The Bank […]
Bank of Canada Makes No Changes Today Read More »
by Theophilos Argitis and Greg Quinn, Bloomberg News Canada is raising minimum down payments on some government-insured mortgages, a move aimed at curbing the risk of a housing crash in Toronto and Vancouver where high prices are leaving some families at risk from heavy debt loads. Finance Minister Bill Morneau announced the plans on Friday
Feds Raise Down Payment Requirements Read More »
Today the Bank of Canada announced that it will maintain its key overnight rate for the time being. In its announcement, the Bank said it will maintain the target for the overnight rate at .5 percent due to global and domestic growth that is in line with its October Monetary Policy Report Outlook. With the
December 2nd Bank of Canada Rate Announcement Read More »
The Bank of Canada (BoC) today announced that it is maintaining its target for the overnight rate at 1/2 per cent. Correspondingly, major financial institutions Prime rates should be staying at 2.7%, or 2.2% above BoC’s Key rate. Inflation remains under control in the eyes of the BoC and global economic growth remains weaker than
Bank of Canada Maintains Key Rate Read More »
The Bank of Canada (BoC) today has announced that it will leave their key overnight lending rate alone at 0.5%, therefore the Prime Rate of lending used by major Canadian FI’s for lending to their best business customers should remain at 2.7%. The BoC believes that a Canadian economic upturn is occurring and that its
BoC September 2015 Announcement Read More »
Today the Bank of Canada (BofC) announced (its fourth of 8 scheduled announcements for the year) that it will not be changing its benchmark key lending rate which directly affects the Prime rate of lending for major FI’s (financial institutions). BofC’s benchmark rate will stay at 0.75% and the Prime rate will likely remain at
Mortgage Logic Rate Watch – Bank of Canada leaves Key Rate untouched Read More »
by Katia Dmitrieva and Josh Wingrove, Bloomberg News Canadian Finance Minister Joe Oliver said he’s confident the country’s housing market isn’t in a bubble, setting aside any further action to curb activity. The government, which has made four changes to housing finance rules since 2008 to cool booming sales and rising prices, is satisfied with
Oliver to Realtors: “Ottawa Will Stay out of Market; No Bubble Seen.” Read More »
Alas, today the big Canadian banks are finally seeing fit to lowering their prime lending rates by 0.15% to 2.85% from 3%. This move made after initially indicating, last week, that they would not change their Prime rates when the Bank of Canada (BoC) lowered it’s Key rate by 0.25% on January 21st. The last
Major Canadian FI’s Give In and Lower their Prime Lending Rates Read More »
Yesterday the Bank of Canada announced a 0.25% cut in their Key Overnight Lending Rate. This is the first movement in their Key Rate in four and a half years. The Bank of Canada’s main concern is how falling oil prices will negatively affect the Canadian (GDP) economy. The resources sector is being hit so
Bank Rate Watch: Who Benefits from Cut? Read More »
People will often wonder why the US has such a big impact on Canada’s economy. Here in a few short words Peter Hall, Chief Economist of EDC sums it up from a global perspective: Per capita, American consumers are among the richest in the world, operating in the planet’s top domestic market. Consumers account for
13 Cents Can Be a Lot of Money Read More »
