Mortgage Blog

Bank of Canada Rate Announcement - January 24, 2024

Bank of Canada Rate Announcement - January 24, 2024

January 24, 2024 | Posted by: Ken Fadel

The BoC cited the ongoing risk of inflation for its decision to maintain its overnight benchmark interest rate at 5.0%. CPI inflation ended the year at 3.4% and the Bank expects inflation to remain c ...

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Bank of Canada Rate Announcement - December 6, 2023

Bank of Canada Rate Announcement - December 6, 2023

December 6, 2023 | Posted by: Ken Fadel

To no one's surprise, the BoC left its benchmark interest rate unchanged at 5% today, marking the third consecutive hold as the economy continues to show signs of weakening.  The bank has left ra ...

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Bank of Canada Rate Announcement - October 23, 2023

Bank of Canada Rate Announcement - October 23, 2023

October 25, 2023 | Posted by: Ken Fadel

As was widely expected, the BoC announced this morning that its target for the overnight rate is remains unchanged at 5%. The BoC noted the global economy is slowing and that growth is forecast to mo ...

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Bank of Canada Rate Announcement - September 6, 2023

Bank of Canada Rate Announcement - September 6, 2023

September 6, 2023 | Posted by: Ken Fadel

The BoC hit pause on interest rate hikes this morning, leaving its target for the overnight rate unchanged at 5.00%. After increases in both June and July this is the first indication that it believes ...

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Bank of Canada Rate Announcement - July 12, 2023

Bank of Canada Rate Announcement - July 12, 2023

July 12, 2023 | Posted by: Ken Fadel

As expected, the BoC just increased its target for the overnight rate 25 bps to 5.00%, a level not seen in 22 years. While energy and goods inflation continue to slowly ease, robust demand and tight ...

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Bank of Canada Rate Announcement - June 7, 2023

Bank of Canada Rate Announcement - June 7, 2023

June 7, 2023 | Posted by: Ken Fadel

The Bank of Canada has hiked its overnight target rate by 25 basis points to 4.75%. The move was partially expected by markets and marks the Bank’s first rate hike since January. In its statem ...

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Bank of Canada Rate Announcement - April 12, 2023

Bank of Canada Rate Announcement - April 12, 2023

April 12, 2023 | Posted by: Ken Fadel

The BoC announced no change to its benchmark interest rate today, leaving its key rate untouched at 4.50% for a second consecutive month as it continues a careful pivot away from its rate-hiking traje ...

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Bank of Canada Rate Announcement - March 8, 2023

Bank of Canada Rate Announcement - March 8, 2023

March 8, 2023 | Posted by: Ken Fadel

As predicted, the BoC today held its target for the overnight rate at 4.50%.  This is the first break in rate increases since March of last year. The global economy has evolved broadly in line w ...

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Bank of Canada Rate Announcement - January 25, 2023

Bank of Canada Rate Announcement - January 25, 2023

January 25, 2023 | Posted by: Ken Fadel

As was widely expected, the BoC has announced another 0.25% increase to its target for the overnight rate today.  This is the eighth consecutive increase, though it may be the last for awhile.&nb ...

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Bank of Canada Rate Announcement - December 7, 2022

Bank of Canada Rate Announcement - December 7, 2022

December 7, 2022 | Posted by: Ken Fadel

The Bank of Canada announced another 50 bps hike to its benchmark rate today, raising the overnight rate to 4.25%.  This latest hike sees the rate sitting at a level not seen since 2008.  20 ...

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