BANK of CANADA HOLDS – For Now 9-6-23

09.06.2023posted by: Walter Mota
       Michael Cabral Mortgage Associate 204.997.5021 It’s “wait and see” as Bank of Canada maintains its policy rate at 5% The Bank of Canada announced today that it will hold the overnight rate at 5% despite an inflation rate increase to 3.3% in July 2023 which is trending further away from its target…
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Bank of Canada raises its key policy rate by .25% to 4.75%

06.09.2023posted by: Walter Mota
       Michael Cabral Mortgage Associate 204.997.5021 Bank of Canada raises its key policy rate by .25% to 4.75% The Bank of Canada increased the overnight rate today to 4.75% citing persistent inflation at 4.4%, a hot job market and stronger than expected economy.  By raising the overnight rate, the expected effect in the…
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Bank of Canada raises the key interest rate by one-half of a percentage point (0.50%), bringing it to 4.25%

12.07.2022posted by: Walter Mota
The Bank of Canada has raised its policy rate to 4.25% today, stating borrowing costs need to rise to bring inflation back to target of 2% from the current rate of 6.9%. This marks the seventh consecutive rate increase in 2022. “We’re expecting roughly zero growth (in the Canadian economy) for the next several quarters…
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A look at How Rate Increases Impact different Mortgage Types

09.11.2022posted by: Walter Mota
With inflation at its highest level in almost 40 years, the Bank of Canada continues to take drastic action to cool the economy with the latest of five consecutive rate increases announced on September 7. Rising interest rates impact everyone with a mortgage but how and when you will see the impact depends on the…
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Inflation SLOWED to 7.6% in July 2022. What does that mean for the Bank of Canada?

08.16.2022posted by: Walter Mota
By Craig Lord  Global News Posted August 16, 2022 The annual rate of inflation dipped to 7.6 per cent in July, Statistics Canada reported Tuesday, as lower gas prices took some of the heat off household budgets. But the head of the Bank of Canada is signalling the slowdown isn’t enough to avoid further interest rate hikes. In its latest consumer price index (CPI) report,…
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