Bank Of Canada - Continues To Hold Interest Rate At 1.75%

Once again, the Bank Of Canada has left the benchmark interest rate unchanged at 1.75%, blaming “escalating trade conflicts” that they find are taking a toll on Canada’s economy. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC had decided to raise the rate.

The BoC also noted that the Canada’s exports are continuing to grow, the housing market is showing signs of a rebound, and that wages are also picking up. All factors that they believe show a strengthening economy, however are keeping a close eye on “global developments and their impact on Canadian growth and inflation”, such as the trade conflict between United States and China.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The announcement dates are January 9th, March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th.

Bank Of Canada - Continues To Hold Interest Rate At 1.75%

Again, for the fifth straight announcement, the Bank Of Canada has left the benchmark interest rate unchanged at 1.75%. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC had decided to raise the rate.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The announcement dates are January 9th, March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th.

Bank Of Canada - Holds Interest Rate At 1.75%

Again, for the fourth straight announcement, the Bank Of Canada has left the benchmark interest rate unchanged at 1.75%. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC had decided to raise the rate. This was the first announcement that did not include any mention of a need for future increases, which signals that the BOC is in no hurry to move the rate (unlike past announcements where it was mentioned). The BOC is projecting growth of only 0.3% in the first quarter of 2019, with a slightly more positive projection on the second quarter.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The announcement dates are January 9th, March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th.

Bank of Canada - Interest Rate Holds at 1.75%

Once again, the Bank of Canada has released that it will keep its benchmark interest rate unchanged at 1.75%. The last rate change was in October 2018, which was the fifth time since the summer of 2017 that the BoC has decided to raise the rate. In the fall, there was a high guarantee that the rate would rise numerous times in 2019, however, with the economic slowdown that began in the fall (compounded by the slowdown in Canada’s oil sector), has led many to believe rates will hold or drop throughout the year.

What does this mean? The BoC’s rate directly affects the rate that you will get from a retail bank for lending (mortgages and lines of credits) and savings products. When the rate is low, it means that it is cheaper to borrow money, but not as lucrative to save.

The BoC has eight fixed dates each year on which it announces whether or not it will change the policy interest rate. The announcement dates are January 9th, followed by March 6th, April 24th, May 29, July 10, September 4th, October 30th, and December 4th.