Category: Bank of Canada
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The Bank of Canada Cuts It`s Policy Rate By another 50 Basis Points
The BoC slashed the overnight rate by 50 bps this morning, bringing the policy rate down to 3.25%.Today’s move will take the prime rate down 50 bps to 5.45% effective tomorrow, reducing floating rate mortgage loan rates by a half point, easing the cost of borrowing and reducing the monthly payment increase for renewals. This should spark… Read more
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Bank Of Canada Cuts Policy Rate By 50 BPs
Resource: Dominion Lending Centres After three consecutive 25 bp rate cuts, the BoC slashed the overnight rate by 50 bps at Oct.23rd 2024, bringing the policy rate down to 3.75%. The market had priced in 90% odds of a 50 bp move, where consensus coalesced. The combined slower-than-expected GDP growth and back-to-back weak inflation reports solidified the calls… Read more
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Bank of Canada reduces Policy Rate by 25 bps
Great news today as Bank of Canada reduces Policy Rate by 25 bps, from 5% to 4.75%. This should result in Lenders reducing their Prime Rate by 25 bps to 6.95 in the next day or so. This is good news as it gives the Bank of Canada confidence that they can reduce our rates… Read more