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...
As widely expected by economists and investors, the Bank of Canada left its trend-setting interest rate unchanged at 1.75 per cent, Global News/ Fergal Smith-Reuters Full Article: https://globalnews.ca/news/5025942/bank-of-canada-interest-rate-unchanged-1-75/ The Bank of Canada (BoC) is keeping its key interest rate target on hold at 1.75 per cent on Wednesday, citing concerns about the global...
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...
Critics say new mortgage rules will push borrowers to unregulated lenders Canada's banking regulator will move ahead with controversial new mortgage stress-testing rules in an effort to curb risky lending practices at banks, but critics say the changes will drive more borrowers to unregulated alternative lenders and add risk to the financial system more broadly. The Office of the Superintendent of...
The Bank of Canada (BOC) raised the prime rate by 0.25% today taking the last of the 2015 emergency stimulus out of the system. The rate increase was expected to happen in October, however the economic growth seen over the summer was enough for the BOC to make the move on 6th Sep 2017. So why is today's rate increase a good thing? The first reason is it confirms that the economy is finally finding its...