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Bank of Canada maintains its key policy rate at 5.0 per cent The Bank of Canada kept the overnight rate today to 5.0% after receiving data, as of September 2023, that the inflation rate is at 3.8% and trending downward towards its target of 2%. Canada will officially announce soon it has entered a recession…

       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…

       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…