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Bank of Canada Prime Interest Rate Announcement April 2012

Prime Rate Guy — Tue, 17 Apr 2012 13:12:29 +0000

The Bank of Canada has announced that the key overnight interest rate will stay at 1.00%. This was widely expected due to continuing bad news from Europe and the Bank’s desire to keep the Canadian dollar from increasing too rapidly. What does this mean for mortgage rates? Canadian mortgage rates are near all-time lows and [...]

Bank Of Canada Interest Rate Announcement March 2012

Prime Rate Guy — Thu, 08 Mar 2012 14:16:42 +0000

The Bank of Canada has kept its main interest rate at 1.00% according to the statement released this morning. According to the statement, “Recent developments suggest that the outlook for the Canadian economy is marginally improved”. However there are indications that an interest rate hike could come as soon as October this year. Now may [...]

Bank of Canada Interest Rate Announcement January 2012

Prime Rate Guy — Tue, 17 Jan 2012 14:06:41 +0000

The Bank of Canada has announced that the key interest rate will remain at 1.00% This comes as no surprise as no rate hikes or cuts were anticipated by the vast majority of analysts and financial writers. Mortgage rates however, may be on the decrease due to cheap bonds. “A strong international demand for bonds [...]

Bank of Canada Interest Rate Announcement Schedule 2012

Prime Rate Guy — Mon, 16 Jan 2012 20:04:39 +0000

The Bank of Canada key interest rate announcement schedule for 2012 is: 17 January 8 March 17 April 5 June 17 July 5 September 23 October 4 December Tomorrow will be the first announcement of 2012 This may give us an indication of the direction of the Canadian prime rate and Canadian mortgage rates in [...]

Bank of Canada Interest Rate Announcement December 2011

Prime Rate Guy — Tue, 06 Dec 2011 14:08:40 +0000

The Bank of Canada has announced that the current interest rate of 1% will stay in effect. This was expected due to the continuing economic problems especially in the Eurozone countries. According to Derek Holt and Karen Cordes Woods at Scotia Capital, “We are not expecting any major shifts in the BoC’s thinking … especially [...]

Bank of Canada Prime Rate Update October 2011

Prime Rate Guy — Tue, 25 Oct 2011 13:05:06 +0000

The Bank of Canada has announced that the key overnight interest rate will stay at 1.00%. This is in line with the expectations of analysts who predicted that the Bank would hold the present rate in part due to the global economic situation. Facebook Mortgage Calculator As for Canadian mortgage rates, we’ll publish more [...]

Bank of Canada Announcement Coming Next Tuesday

Prime Rate Guy — Thu, 20 Oct 2011 20:05:03 +0000

The next Bank of Canada interest rate announcement will be Tuesday October 25 at 9AM. According to a Reuters poll launched on Tuesday, The Bank of Canada could keep rates on hold until the third quarter of 2012 due to slow global growth and also the risk that the debt problems in Europe will continue [...]

Bank of Canada Prime Rate Update September 7, 2011

Prime Rate Guy — Wed, 07 Sep 2011 13:04:22 +0000

As anticipated by most analysts, the Bank of Canada has decided to hold the key overnight interest rate at 1%. The prime rate was predicted to rise today as recently as a few months ago. However, the recent nasty economic news from almost all fronts helped convince the Bank of Canada to hold the Canada [...]

Bank of Canada Interest Rate Uncertainty

Prime Rate Guy — Mon, 29 Aug 2011 12:33:33 +0000

The next Bank of Canada interest rate announcement is coming September 7, 2011. While an interest rate hike has been pretty much ruled out, it’s possible there may be a cut in the Bank of Canada prime rate on that date. Mortgage rates are fluctuating with some variable rates rising at certain institutions. Check back [...]

No Bank of Canada Interest Rate Hike This Year?

Prime Rate Guy — Fri, 12 Aug 2011 18:15:37 +0000

Just a few weeks ago the Bank of Canada was expected to raise interest rates in September. This appears to be off the table now with all the recent economic turmoil in the U.S. and Europe. In fact, a rate decrease may be coming due to the recent interest rate freeze announced in the U.S. [...]