Some great ideas here!
Posted on
June 21, 2022
by
Graham Ogden
Bank of Canada overnight rate rises to 1.5%
Posted on
June 1, 2022
by
Graham Ogden
The Bank of Canada has raised its policy rate three times in 2022, to 1.5 per cent today from a pandemic low starting in March of 2020 of 0.25 per cent. Bank of Canada Deputy Governor Toni Gravelle stated borrowing costs need to rise quickly to more normal levels to bring inflation back to target of 2% from its current high this month of 6.8%, and that the current policy interest rate was "too stimulative". The Bank of Canada has warned that the overnight rate needs to rise... Happy May Long Weekend!
Posted on
May 19, 2022
by
Graham Ogden
Have an amazing long weeeknd!
Posted on
April 14, 2022
by
Graham Ogden
Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.
The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.
The next rate-setting day is October 22nd. |
Today’s Bank of Canada rate hold announcement marks almost four straight years that the key benchmark rate has remained unchanged, since September 8, 2010. Great news if you have a variable-rate mortgage or home equity line of credit; the prime rate stays at 3%.
The announcement noted that “the risks to the outlook for inflation remain roughly balanced, while the risks associated with household imbalances have not diminished.” With these considerations, the Bank is maintaining its monetary policy stimulus, and remains neutral with respect to the timing and direction of the next change.
The next rate-setting day is October 22nd. |