Bank of Canada holds key rate, signals hikes could be over
The Bank of Canada held its benchmark interest rate steady at 5.0 per cent on Wednesday and hinted that its tightening cycle might have peaked. The decision, which marks the fourth consecutive hold from the central bank, was widely expected by economists. According to prepared remarks from Bank of Canada governor Tiff Macklem, conversations at […]
Bank of Canada holds key rate at 5%
Bank of Canada holds key rate at 5% but leaves door open to future hikes, citing persistent inflation pressures. The Bank of Canada today held its target for the overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The Bank is also continuing its policy of quantitative tightening. […]
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Interest rates jump even higher: Bank of Canada hikes key rate to 5%
Bank cites a stronger than expected economy and more persistent inflation than previously forecast. Interest rates are going up again. The Bank of Canada announced Wednesday morning it’s raising its key overnight interest rate by a quarter percentage point to 5 per cent, citing a stronger than expected economy, and more persistent inflation than previously […]
Bank of Canada unexpectedly hikes rate to 4.75% — and economists see room for more.
The rise brings the policy rate to the highest it’s been since April 2001. The central bank pointed to stubbornly high inflation and a resilient Canadian economy as the reasons why the governing council decided its monetary policy was not yet restrictive enough to bring the consumer price index back to its two per cent […]
Canada’s economy grew by 3.1% in first quarter, raising odds of an interest rate hike.
Canada’s economy grew by 3.1% in first quarter, raising odds of an interest rate hike.
Housing market shows signs of stabilizing as sales and prices inch higher
The average price of a Canadian home was down 13.7 per cent compared to this time last year, but a lack of properties on the market have prices starting to creep back up.
Bank of Canada maintains policy rate, continues quantitative tightening
On March 8, 2023, the Bank of Canada held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening. The Bank of Canada today held its target for the overnight rate at 4½%, with the […]
Bank of Canada Raises Key Interest Rate by 25 bps, with next announcement expected on March 8, 2023.
The Bank of Canada has recently increased its target for the overnight rate to 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. This news may cause some concerns for those involved in the real estate industry, particularly for property and real estate appraisals.
As the effects of interest rate increases continue to work through the economy, spending on consumer services and business investment are expected to slow. This may result in a decline in housing market activity, as potential buyers may be deterred by the higher borrowing costs. However, it’s important to note that the economy remains in excess demand and the Bank estimates Canada’s economy grew by 3.6% in 2022, slightly stronger than was projected in October.
Despite the potential slowdown in the housing market, the Bank remains committed to restoring price stability for Canadians. Inflation is projected to come down significantly this year, which may bring some relief for those feeling the hardship of high inflation in essential household expenses. It’s important for property and real estate professionals to stay informed about these developments and consider their potential impact on their business.
