In Brief Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (also no change; seePrime Rate) Market Rate Forecast:No BoC hikes until late 2022 BoC’s Headline Quote: “The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2% inflation target is sustainably achieved. In our projection, this does...
Quick Rundown Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (also no change; seePrime Rate) Market Rate Forecast:No BoC hikes until at least 2023 BoC’s Headline Quote: “The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2% inflation target is sustainably achieved.” BoC on the Economy:...
Quick Rundown Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (also no change; seePrime Rate) Market Rate Forecast:No BoC hikes until at least 2023 BoC’s Headline Quote: “The Governing Council will hold the policy interest rate at the effective lower bound until economic slack is absorbed so that the 2% inflation target is sustainably achieved. In our current projection,...
Quick Summary Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (also no change; seePrime Rate) Market Rate Forecast:No BoC hikes until at least 2023 BoC’s Headline Quote: “…The Bank is prepared to provide further monetary stimulus as needed.” BoC on the Economy: “The Bank expects economic slack to persist as the recovery in demand lags that of supply, creating...
Quick Summary Today’s Announcement:No change to rates Overnight rate:0.25% Prime Rate:2.45% (no change; seePrime Rate) Market Rate Forecast:No BoC hikes until 2022 BoC’s Headline Quote:“…The Canadian economy appears to have avoided the most severe scenario…” BoC on the Economy:“…The Bank expects the economy to resume growth in the third quarter.” BoC’s Full Statement:Click here Next Rate Meeting:July 15, 2020 The...
After slashing rates three times in March and buying billions in bond market instruments to further suppress interest rates, the Bank of Canada pressed <Pause> today. Here’s what happened and how mortgagors should respond. Rate Announcement:No change Overnight rate:0.25% Prime Rate:2.45% (seePrime Rate) Market Rate Forecast:No change until at least 2022 BoC’s Headline Quote:“The Bank’s Governing Council stands ready to...
Amid a global growth scare, the BoC has slashed Canada’s most-watched rate for the first time in almost five years. “…The COVID-19 virus is a material negative shock to the Canadian and global outlooks,” the Bank said in its statement today. Despite how concerned the bank is about fuelling more debt, it chopped its overnight target by 50 bps to...
Canada’s rate-setter left its key rate untouched today while striking a less-than-cheery chord on the country’s outlook. Here’s a quick take on this morning’s Bank of Canada rate decision: Rate Announcement:No change Overnight rate: Remains at1.75% Prime Rate: Remains at 3.95% (seePrime Rate) Market Rate Forecast:One rate cut in 2020 BoC’s Headline Quote: “…Governing Council will be watching closely to...
The Bank of Canada ended 2019 where it ended 2018, with prime rate frozen at 3.95%. Here’s a summary of the Bank of Canada rate decision this morning: Rate Announcement:No change Overnight rate: Remains at1.75% Prime Rate: Remains at 3.95% (seePrime Rate) Market Rate Forecast:One rate cut in 2020 BoC’s Headline Quote: “Future interest rate decisions will be guided by…the...
The Bank of Canada said today that it’ll keep coasting on rates. But the market isn’t so sure. Investors think our central bank may have to cut sooner than some expect. Here’s a summary of this morning’s decision: Rate Announcement:No change Overnight rate: Remains at1.75% Prime Rate: Remains at 3.95% Market Rate Forecast:One rate cut in 2020 BoC’s Headline Quote:...
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