8 Dec

Bank of Canada maintains policy rate and forward guidance

Latest News

Posted by: Aneta Zimnicki

Bank of Canada maintains overnight rate. Your variable rate mortgage remains unchanged. The Bank is maintaining its bond buying pace, purchasing bonds solely to replace maturing bonds (“reinvestment phase”). Its assessment of inflation sees little change, expects inflation to remain elevated in the first half of 2022 and ease back towards 2% target in the second half of the year. “The Bank is closely watching inflation expectations and labour costs to ensure that the forces pushing up prices do not become embedded in ongoing inflation.” Next announcement Jan 26.