Today, Wednesday June 3rd, the Bank of Canada (BoC) made its sixth interest rate announcement this year, the first under its newly appointed Governor Tiff Macklem. The BoC has repeatedly stated that it has no intention of reducing the rate below its where it is at currently: 0.25%. The BoC did state that the impact […]
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
Has Not Changed in a Year, Not likely to Change For Quite Some Time Ideas previously extolled in media about rate hikes this year are completely unfounded now. 1.) Strength in Canadian currency, 2.) no sign of inflation, 3.) slower Canadian economy than previously thought. It all adds up to extended period of low rates.