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       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…

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…

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…

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,…