Bank of Canada maintains overnight rate. Your variable rate mortgage remains unchanged. Naturally, due to upcoming election, the boat is not being rocked. Status quo message: transitory inflation and recovery still estimated second half 2022. “These factors pushing up inflation are expected to be transitory, but their persistence and magnitude are uncertain and will be […]

Bank of Canada maintains overnight rate. Your variable rate mortgage remains unchanged. Not much change from the last announcement’s narrative. Provided more details about their inflation assessment. “The factors pushing up inflation are transitory, but their persistence and magnitude are uncertain and will be monitored closely.” Bank maintains 2% inflation target expected sometime in the […]

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program. Exact same words as last announcement. Comments on temporary factors for inflation. “There is still considerable excess capacity, and the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy […]

Effective June 1, government increases stress test rate, both for insured (low downpayment) and uninsured mortgages. Translates to a reduction in buying power by approximately 4 to 4.5%. Mad rush to submit offers before deadline, this will be messy. Probably creating even more bumps in prices. Consensus opinion is this does nothing for helping first […]

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, adjusts quantitative easing program. “There is still considerable excess capacity, and the recovery continues to require extraordinary monetary policy support. We remain committed to holding the policy interest rate at the effective lower bound until economic slack is absorbed. […]

Bank of Canada will hold current level of policy rate until inflation objective is sustainably achieved, continues quantitative easing. Continues to projects absorption of economic slack will not happen until into 2023. “Despite the stronger near-term outlook, there is still considerable economic slack and a great deal of uncertainty about the evolution of the virus […]

Despite some rumblings of possible ‘microcuts’, Bank of Canada maintains the rate steady. Your variable rate mortgage remains unchanged. Rates should be low for some time, 2023 is maintained as the current estimate. “The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current […]

Not surprising. Bank of Canada maintains the rate steady. Your variable rate mortgage remains unchanged. Rates should be low for some time, 2023 is the current estimate. “To reinforce this commitment and keep interest rates low across the yield curve, the Bank will continue its quantitative easing program until the recovery is well underway and […]

Bank of Canada maintains the rate steady. This means your variable rate mortgage remains unchanged. Will hold the policy interest rate at the effective lower bound until economic slack is absorbed. ‘In our current projection, this does not happen until into 2023.’ Next scheduled announcement is Dec 9.

Bank of Canada maintains the rate steady. This means your variable rate mortgage remains unchanged. States that it will hold rate at the effective lower bound, until economic slack is absorbed and the inflation target is sustainably achieved. Sounds like rate is not going anywhere. Next scheduled announcement is Oct 28.