From the surging demand in real estate due to ultra-low interest rates to the sudden rise in interest rates not seen in a generation, staying updated on the ever-changing mortgage landscape has been challenging. Now, with interest rates expected to remain high for an extended period, homeowners who secured low rates in previous years are …
Stubborn inflation may not necessitate another interest rate hike, but it could result in the Bank of Canada maintaining its policy rate at a higher level for a longer duration, as indicated by new forecasts released this week. An updated economic outlook from Deloitte Canada, published on Thursday, reveals a more challenging path for gross …
The Bank of Canada Remains Cautious in Rate Decision Amid Concerns of Misinterpretation The Bank of Canada recently released documents revealing their cautious approach to communicating their latest policy rate decision. The bank’s governing council was concerned about potential misinterpretation that might suggest the bank was finished raising interest rates or that rates would soon …
Bank of Canada Governor Tiff Macklem reaffirmed the central bank’s independence and defended its interest rate decisions in response to recent political commentary. Macklem expressed confidence in the Bank of Canada’s ability to fulfill its mandate of controlling inflation, emphasizing that maintaining independence is crucial. The Bank’s decision to hold its benchmark interest rate steady …
The Bank of Canada’s Inflation Target in Sight, but Additional Rate Hikes May Be Needed The head of the Bank of Canada, Tiff Macklem, addressed the Calgary Chamber of Commerce on Thursday, stating that the central bank’s goal of achieving a two per cent inflation rate is “now in sight.” However, he cautioned that persistent …
According to a new survey released by Re/Max Canada on Tuesday, Canada’s housing market could experience a slowdown this fall as potential buyers and sellers wait to see what the Bank of Canada does with interest rates. The report suggests that home prices will remain stagnant from August until the end of the year due …
This year in Canada, the month of September holds significance for two reasons. First, there is mounting pressure on the Toronto Blue Jays as they strive to secure a wild card spot for the MLB postseason. Second, economists are analyzing data to update their forecasts on the potential decline in the economy. According to Statistics …
As the Bank of Canada raises interest rates, borrowers are feeling the pinch. Traditionally, higher interest rates are expected to result in better savings rates. However, experts say that the relationship between borrowing costs and savings rates is not always straightforward. Consumers must be nimble and proactive to take advantage of competition in the banking …
The policymakers of the Bank of Canada have stated that they are willing to raise their benchmark interest rate further, despite already reaching its highest level in 22 years. This decision was made earlier this month, when the policy rate was increased by 25 basis points to 5.0 percent. The central bank recently released the …
The Bank of Canada has adopted a more flexible approach to its messaging strategy compared to January when it announced a pause in rate hikes that resulted in a resurgence of the housing market. This led to increased inflation and the need to resume tightening measures five months later. After raising rates to a 22-year …