Bank of Canada Interest Rate Announcement Dates | Matt Gul

Wed, March 8

The Bank of Canada held its policy interest rate steady for the first time in a year. As a result, the benchmark interest rate remains at 4.50% and Prime at 6.70%.

Below is an analysis by Matt Gul's friend, Dave Bruynesteyn - the North Shore's Mortgage Expert. 

"The Bank holding rates steady was a great relief to all the variable interest rate clients out there who have seen eight straight interest rate increases since the beginning of 2022. The Bank is also continuing its policy of quantitative tightening. Canada is the first bank to pause raising interest rates among the worlds major central banks."

"The fourth quarter of last year saw economic growth slow to a halt. The increase in interest rates slowed housing activity significantly.  "Inflation eased to 5.9% in January, reflecting lower price increases for energy, durable goods and some services. Price increases for food and shelter remain high, causing continued hardship for Canadians.”

"The Bank of Canada will continue to monitor the economy going forward to maintain its goal of 2% inflation. Most economists think the Bank of Canada will hold the overnight lending rate at 4.5% for the rest of the year. Fixed rates continue to be around 5% for 5 year term these days and we need some more stability in the world before I expect we will see any major reductions"

Wed January 25

At the end of January 2023, The Bank of Canada announced what it expects to be its last interest rate hike of the current cycle as it pauses to assess the effects of higher rates on the economy.

Below is an analysis by Matt Gul's friend, Dave Bruynesteyn - the North Shore's Mortgage Expert. 

"The .25% rate hike comes after months of inflation slowing in Canada. After peaking at 8.1% in the summer, the country's annual inflation rate has steadily declined and reached 6.3% in December. The Bank of Canada also published its latest monetary policy report which provides updated projections for the economy and inflation.
According to the report, the central bank expects inflation to slow faster than it had previously anticipated. It’s forecasting the annual inflation rate will fall to three per cent by mid-2023 and to its two per cent target in 2024. “We’ve raised rates rapidly, and now it’s time to pause and assess whether monetary policy is sufficiently restrictive to bring inflation back to its two per cent target,” Bank of Canada Governor Tiff Macklem told reporters after the announcement on Wednesday.

What does this mean to you? If you have been riding the variable rate wave, we look to be at the peak and we can expect to see some reductions in the rate towards the end of the year if inflation continues to fall. If you are in a fixed rate term this won’t have any effect on your current mortgage. As far as fixed rates go, the bond market is still looking at a lot of uncertainty in the world. It is expected that fixed rates will stay around the current levels for the time being.

Bank of Canada Interest Rate Announcement Dates / 加拿大央行利率公佈日期

- Wed January 25 +0.25%
- Wed, March 8 +0.00%
- Wed, April 12
- Wed June 7
- Wed, July 12
- Wed, September 6
- Wed, October 25
- Wed December 6

If you are interested in selling or purchasing a property, please contact Matt Gul, one of West Vancouver's top Realtors  at 778-888-8888, for Mortgage Advice, please contact Dave Bruynesteyn at 604-315-3283 and mention that you've been referred by Matt Gul.

2023 年 1 月底,加拿大央行宣布其預計將是本週期的最後一次加息,同時暫停評估加息對經濟的影響。

以下是 Matt Gul 的朋友、North Shore’s Mortgage 貸款專家 Dave Bruynesteyn 的分析。

這次 0.25% 的加息是在加拿大通貨膨脹放緩數月之後決定。

在夏季通脹達到 8.1% 的峰值後,本年度通貨膨脹率穩步下降,並在 12 月達到 6.3%。 加拿大央行還發布了最新的貨幣政策報告,其中提供了對經濟和通脹的最新預測。

根據該報告,央行預計通脹放緩速度將快於此前預期。 它預測年通脹率到 2023 年年中將降至 3%,並在 2024 年降至 2% 的目標。 “

我們已經迅速加息,現在是時候暫停並評估貨幣政策是否具有足夠的限制性以將通脹率帶回其 2% 的目標,”加拿大央行行長 Tiff Macklem 在周三宣布加息後告訴記者。

這對你有什麼關係? 如果您一直在乘著可變利率浪潮,現在

正處於頂峰,如果通貨膨脹率繼續下降,我們可以預計到年底利率會有所下降。 如果您處於固定利率期限內,這不會對您當前的抵押貸款產生任何影響。 就固定利率而言,債券市場仍在關注世界上的許多不確定性。 預計固定利率將暫時保持在當前水平附近。

如果您有興趣出售或購買房產,請致電 778-888-8888 聯繫西溫哥華頂級房地產經紀人之一 Matt Gul,如需抵押貸款建議,請致電 604-315-3283 聯繫 Dave Bruynesteyn,並提及您曾 由 Matt Gul 推薦。如果你需要中文資訊, 請跟Gabriel Lui 呂鎮嶽聯絡-778-772-3765.