Poloz raises rates on overnight rate

Bank of Canada Holds Rates!

As the financial storm moves into the Canadian economy the Bank of Canada as expected has chosen to forgo on the rate increases as they once had promised would happen. The main reasons for the decision come from lower than expected GDP numbers and from the decision that Alberta government has taken to reduce oil production starting…

BANK OF CANADA RATE ANNOUNCEMENT

The Bank of Canada today maintained its target for the overnight rate at 1¼ per cent. The Bank Rate is correspondingly 1½ per cent and the deposit rate is 1 per cent. Global economic activity remains broadly on track with the Bank’s April Monetary Policy Report (MPR) forecast. Recent data point to some upside to the…

Bank of Canada Raises the Rates

The Bank of Canada raises the rate in advance of analyst expectations. It was believed the BoC would not raise rates until well into the 2018 year. This has come as a surprise to many economists as the key indicators that are used to predict rate increases pointed in a different direction. The last announcement…