The Bank of Canada's target overnight lending rate is 3.25%. The central bank's latest rate decision on Dec. 11 was to lower its overnight lending rate from 3.75% to 3.25%. The next interest rate decision will be made on Jan. 25. Here is the latest da...
The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.25%, while stating that it will continue with Quantitative Tightening (QT). The bank highlighted that economic growth has been weaker than they expected, stating that "the economy grew by 1% in the third quarter,...
What is the Bank of Canada’s official policy interest rate? The BoC does not set monetary policy; however, Canada’s central bank works with the federal government to establish monetary policy, and the primary tool used by the BoC is to make changes to the overnight target rate. By adjus...
The Bank of Canada (BoC) hasloweredits key interest rate to 4.50 per cent, its second rate cut of the year. Last month, the bankdroppedthe interest rate from a longstanding 5 per cent to 4.75 per cent. That move was the first in more than four years, following six rate holds. "Whil...
Canada currently has a shortage of affordable, residential housing. A higher interest rate means it is more expensive to borrow money from the bank, mortgages become more expensive, and any kind of bank loan will cost more. Again, this is designed to slow down the rate...
The Bank of Canada (BoC) announced its fifth interest rate increase of the year, raising rates by another 75 basis points. This follows its July The Bank of Canada announced its fifth interest rate increase of the year, raising rates by 75 basis points.
The Bank of Canada (BoC) has lowered its key interest rate to 4.25 per cent, its third rate cut of the year. In June, the Bank dropped the interest r…
While debate has been bubbling about whether this will be the last interest rate hike of the year, the Bank of Canada was clear that more increases may be needed to bring inflation down to its two per cent target. “Given the outlook for inflation, the governing coun...
The article reports on the move by the Bank of Canada, Canada's central bank, on September 9, 2005, to raise interest rates for the first time in 11 months. In response to the rate hike, Canadian banks raised their prime lending rates to 4.50 percent from 4.25 percent. Moreover, the ...
The Bank of Canada reviews its benchmark interest rate eight times a year and considers both local and international, current and potential influences in the reviews. Analysts said several interest rate hikes this year will be expected.■