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…