The Bank of Canada (BoC) today reduced its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The BoC is continuing its policy of balance sheet normalization – selling off debt previously purchased to stimulate growth. The Prime interest rate at major financial institutions will […]
Bank of Canada reduces policy rate by 25 basis points to 4½% – July 24, 2024 Read More »
As predicted it would occur, either in June or July this year, for the first time since the Bank of Canada key rate increases peaked in July of 2023 they have decided to begin easing their rate due to the current economic environment in Canada. Their essential thoughts are as causing their action is as
Bank of Canada Eases Key Rate Today Read More »
The Bank of Canada (BoC) today, at its regular scheduled announcement, decided to leave its Key Overnight Lending rate at 5.0%. BoC has observed that inflation has recently cooled off from its highs in 2023, (February core inflation being 2.8%), demonstrating that rising prices are coming under control. It still needs to see more of
Bank of Canada Stays Key Rate, but Addresses Near Future Easing Read More »
Today the Bank of Canada (BoC) again has decided to hold their Key Rate the same. The Canadian economy is in an unusual situation due to a combination of Federal Government policies and post-COVID effects. Inflation began going through the roof, as we all remember, in the middle of the COVID reign, due to supply
Bank of Canada today…no Change, Later on for Rate Cuts Read More »
The Bank of Canada today held its target for the overnight rate at 5%. The Bank is continuing its policy of quantitative tightening (selling debt from its books). The global economy is slowing past increases in policy rates and the recent surge in global bond yields are slowing demand. The Bank projects global GDP growth
The Bank of Canada holds firm on Key Rate today – October 25, 2023 Read More »
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
Sept 6, 2023 – Bank of Canada Leaves Rate As Is Read More »
The Bank of Canada (BoC) today raised its key rate by 0.25% to 5.0%, stating that it sees it key rate coming back down circa 2025 (a federal election year). The unusual issue about our current BoC regime is that they continue to predict events and timing which traditionally the BoC has stayed away from.
The BoC Raises Rate to Highest Level in 22 Years Read More »
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) today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening, ie releasing/selling debt that they had previously purchased. Per the BoC: “Inflation in many countries is easing in
BoC Takes Heed of US Bank Failures, Holds Rate 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 »
