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 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 »
Taxes have never achieved anything good for an Economy or a Society and certainly have never achieved the objective that they were originally dreamt up for. They are punitive and negative and discourage raising the overall standard of living for all. A new report backed by Canada’s national housing agency is calling for a home …
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 »
IRD, a home owner’s most feared three letter acronym! Clients looking to refinance their existing mortgage to lower their rate or moving to a new property, run into this term every time, especially these days. The size of an IRD (interest rate differential) penalty depends upon who you have your mortgage with, not just the interest rate …
Mark Greene, Forbes When I was a kid, my father occasionally issued directives that I naturally thought were superfluous, and when asked why I needed to do whatever it was he wanted me to do, his answer was often: “Because I said so.” Accepting Documentation Requirements – Makes Life Easier! The media has it all …
