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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…
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…
The Bank of Canada (BoC) just announced an unscheduled Key Rate cut of 0.5% (one half of one percent) in response to the anticipated drag on the economy that will be caused by the Corona Virus (Covid-19). This should immediately…
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…
Today the Bank of Canada (BoC), on their scheduled announcement date, decided to leave their key rate and not change it. They made it clear that there are no more thoughts of raising the rate this year. After taking stock…
Today the Bank of Canada (BoC) announced that it will be leaving its key rate unchanged at 1.25%. Canadian financial institutions are expected to follow suit and leave their Prime rate of lending at 3.45% Contrary to previous thinking; BoC…
by Buzz Grant The Office of the Superintendent of Financial Institutions (OSFI) issued a letter this morning to all federally regulated financial institutions (FRFI). The letter expresses concern about the rising levels of household debt in Canada and serves…
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%),…
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…
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…