Bank of Canada holds key interest rate at 1%

Benchmark rate has stayed the same for 4 years Canada‘s central bank held its key interest rate at one per cent Wednesday, the same level is has been at for four years. In its latest policy decision, the Bank of Canada also kept its “neutral” stance, which means that governor Stephen Poloz has no plans […]

Bank of Canada warns Toronto’s condo market a ‘pocket of vulnerability’ in Canada’s housing sector – Ask a Vancouver Mortgage Broker

Pamela Heaven |  The Bank of Canada singled out Toronto’s condo market in its report on risks facing the country’s economy and financial system Thursday. The central bank said in its Financial System Review that though Canada’s housing market was broadly in line with demand, the level of condo building was significantly above historical averages. “While some of […]

Bank of Canada warns Toronto’s condo market a ‘pocket of vulnerability’ in Canada’s housing sector – Ask a Vancouver Mortgage Broker

Pamela Heaven The Bank of Canada singled out Toronto’s condo market in its report on risks facing the country’s economy and financial system Thursday. The central bank said in its Financial System Review that though Canada’s housing market was broadly in line with demand, the level of condo building was significantly above historical averages. “While some of […]

Bank of Canada warns low inflation to persist into 2016

BARRIE MCKENNA–  OTTAWA — The Globe and Mail The Bank of Canada is warning that unusually low inflation pressures will persist into 2016 – a new forecast that could further delay future interest rate hikes and send the Canadian dollar lower. The currency plunged after the announcement, sinking to 90.3 cents U.S. by late morning. The central […]

Bank of Canada drops rate guidance, lowers growth forecast

OTTAWA — There has been a sea change at the Bank of Canada. No longer are policymakers setting a specific monetary course for interest rates. Instead, for the first time in 18 months, they have dropped any reference to borrowing costs eventually rising — adopting a neutral position and waiting to see which way economic […]

A Side Effect of Rate Warnings – Consult with Adil Virani, Vancouver Mortgage Broker

“The longer it (low interest rates) goes on, the more people can start to think this is normal and it’s not normal; it’s very, very far from normal.”— Julie Dickson, OSFI Superintendent, Sept. 23, 2013 via MortgageBrokerNews.ca When people hear an authority—like the head of Canada’s banking regulator—make these statements, it compels many to lock in […]

Bank of Canada’s Poloz upbeat about economic growth – Ask a Vancouver Mortgage Broker

Bank of Canada‘s Poloz upbeat about economic growth BARRIE MCKENNA AND BRENT JANG-  OTTAWA/VANCOUVER — The Globe and Mail Bank of Canada Governor Stephen Poloz is painting a brighter picture for the Canadian economy while tossing aside concerns over a housing bubble. Canada is on its “way home” to more natural economic growth as central banks prepare […]

Bank of Canada Rate Biases – Consult with a Vancouver Mortgage Broker

Bank of Canada Rate Biases When the Bank of Canadatalks rates, analysts hang off of every word. They pay special attention to biases in the Bank’s wording (i.e., which way the Bank is leaning on interest rates). The media loves to pump commentators for predictions on whether the BoC will keep its rate “bias,” not keep its bias, […]

Canada’s Carney says rate hikes “less imminent” – Consult with a Vancouver Mortgage Broker

TORONTO (Reuters) – Interest rate hikes have become less imminent than the Bank of Canada once expected, although rates are still likely to rise, central bank Governor Mark Carney said in an interview published on Saturday. “Over time, rates are likely to increase somewhat, but over time, so a less imminent timing relative to our expectation,” […]

BoC hints at rate hike

  The Bank of Canada announced Wednesday it will maintain its overnight rate at 1 per cent, also hinting at the future withdrawal of that stimulus. “In Canada, while global headwinds continue to restrain economic activity, underlying momentum remains at a pace roughly in line with the economy’s production potential,” writes the Central Bank in […]

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