The U.S. Federal Reserve and Bank of Canada seldom make rate announcements on the same day, but tomorrow will be an interesting exception. No one expects any fireworks, but if you believe market expectations, the Fed will cut its key rate 1/4 point while the BoC does a whole lot of nothing. If it all plays out accordingly, it’ll be...
Markets predicted the Bank of Canada would do nothing to rates for the 11th straight month…and they were right. Here’s a quick look at the BoC’s rate statement: Rate Decision:No change Overnight rate: Remains at1.75% Prime Rate: Remains at 3.95% Market Rate Forecast:No change to prime through 2020 BoC’s Headline Quote: “…Canada’s economy is operating close to potential and inflation...
Canadian mortgage rates take their cues from many things, and U.S. monetary policy is near the top of the list. That’s why today’s Fed rate cut—the first since the financial crisis—is meaningful to borrowers. Fed decisions always move Canadian rates in some respect but in this case, key questions remain. Here are the two biggest ones. How Many Cuts Are...
Canada’s rate czars stunned no one this morning. Theyleft the country’s most important rate unchanged. Here’s a quick look at the BoC’s statement: Rate Decision:No change Overnight rate: Remains at1.75% Prime Rate: Remains at 3.95% Market Rate Forecast:No change to prime through 2020 BoC’s Headline Quote: “…the Canadian economy is returning to potential growth. However, the outlook is clouded by...
Last meeting, the Bank of Canada finally shifted its rate outlook to neutral. After today’s meeting, the gear shifter is still firmly there. Here’s a quick glance at what the BoC did today: Rate Decision:No change Overnight rate:1.75% Prime Rate: Prime rate remains at 3.95% Market Rate Forecast:Likely one rate cut by the end of 2020 BoC’s Headline Quote: “…the...
The Bank of Canada’s decision to leave rates alone was far from its most important message today. More on that to follow, but first, here’s a quick take on what the BoC said this morning: Rate Decision:It left Canada’s key interest rate at 1.75% Prime Rate: Prime rate remains at 3.95% Market Rate Forecast: At least one rate cut by...
No one thought the Bank of Canada would move rates today. What observers were looking for was a hint that we may be closer to the end of rate hikes than Governor Poloz has been letting on. Here’s what we heard from the BoC on that point, among other things: Rate Decision: Canada’s key interest rate remains at 1.75% Prime...
The market knew we wouldn’t get a rate hike today. Instead, it was scouring the Bank of Canada’s messaging for guidance on where rates are headed. And the market found it. The bank’s statement this morning reinforced that it expects higher rates, but it will take longer than they thought. Here’s more on the BoC’s latest decision, and what it...
Fears of a slowing economy take rate hikes off the table, and such concerns definitely took a hike off the table today. Canada’s main rate setter, the Bank of Canada, did what most predicted and left rates as-is at this morning’s rate meeting. But the outlook did change. Here’s more on the BoC’s latest decision, and what it means to...
If you’re carrying floating-rate debt, the rate lords at the Bank of Canada have just added to your interest burden. Here’s what the BoC just did and what it means to your wallet: Rate Decision:Canada’s key interest rate rose 25 bps today Prime Rate:Should climb to 3.95% within the week Market Rate Outlook:3 more hikes by year-end 2019 (as of...
log in