If low rates are a yard party, the Bank of Canada has just turned up the lawn sprinklers. Here’s a rundown of what they just did: Rate Decision:They increased the overnight rate 25 bps Prime Rate:Should jump to 3.70% this week Market Rate Outlook:2+ more hikes by year-end 2019 BoC GDP Outlook: “Average growth of close to 2% over 2018-2020″...
Here’s the quick and dirty on Wednesday’s Bank of Canada announcement: Rate Change:None Market Rate Outlook:Two more hikes in 2018 BoC GDP Outlook:2% growth in 2018 and 2019; 1.8% in 2020 BoC Statement:Click here The Money Quote: “…Higher interest rates will be warranted over time…Governing Council will remain cautious with respect to future policy adjustments…” Next Rate Meeting:May 30, 2018...
Not much to see at today’s Bank of Canada meeting. It was another yawner as prime rate held at 3.20%. Among the few takeaways: The Bank stated: “While higher interest rates will likely be required over time, Governing Council will continue to be cautious…” Interpreted this means: Higher rates are on their way, between now and when we die. If...
If you have a mortgage that floats withprime rate, the constant chatter about rate hikes may be unnerving. Well,now you can take a breather—because the Bank of Canadahas taken a breather. The Bank left rates alone today and hinted that future rate hikes may be further off than economic forecasts suggested. If you had to sum upits announcement today in...
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