Source & Credit: RBC Economic Claire Fan July 24, 2024 After a first interest rate cut in June, the Bank of Canada again lowered its key overnight rate by 25 basis points to 4.5%. The move was in line with market and our own expectations ahead of the announcement. Governor Macklem’s opening statement for the press conference was more dovish than the rate announcement. The governor...
The federal government and a federal banking regulator are planning to tweak mortgage stress tests in time for the busy spring home-buying season, a move that could make it easier for would-be owners to get a loan and add fuel to Canada’s housing market. Finance Minister Bill Morneau and the Office of the Superintendent of Financial Institutions announced Tuesday that they aim to replace the current...
The Bank of Canada signalled Wednesday it expects to stick to its rate-hiking path, although at perhaps a more-tentative pace The Bank of Canada left its benchmark interest rate unchanged Wednesday after raising it twice since the summer — but it signalled that future hikes are likely on the horizon. In its scheduled announcement, the central bank said it held off this time in part...
BC government announces official support for Vancouver's Amazon HQ2 bid The provincial government is officially backing Metro Vancouver’s bid to become the home of Amazon’s second headquarters. Earlier today at the Union of BC Municipalities convention held at the Vancouver Convention Centre, Premier John Horgan announced a $50,000 funding commitment to assist the municipalities of Vancouver and...