Tag: Bank of Canada

What the interest rate hike means for mortgage holders, home hunters

TORONTO — The Bank of Canada hiked its key interest rate Wednesday by a quarter percentage point, bringing the rate to 4.75 per cent — the highest it’s been since April 2001. The hike is aimed at quelling inflation, which has proved stubborn, not moving down quickly enough toward the central bank’s target of two per cent. However, the hike is also bound to weigh on those hunting for homes or holding mortgages. What does the interest rate have to do with my mortgage? Mortgage rates tend to move i
— Read on ca.finance.yahoo.com/news/interest-rate-hike-means-mortgage-162818361.html

Canada’s Surprise Hike Exposes Global Struggle to Find Endpoint for Rates

(Bloomberg) — The Bank of Canada’s decision to resume raising interest rates shook global bond markets and underscored the difficult task faced by central banks as they try to slow economic activity and tamp down inflation.Most Read from BloombergThese Are the World’s 20 Most Expensive Cities for Expats in 2023Tech Stocks Sputter as Traders Consider July Hike: Markets WrapGeorge Santos Loses Bid to Shield the People Who Guaranteed His $500,000 BailDam Destroyed in the Dead of Night Upstages Ukr
— Read on ca.finance.yahoo.com/news/canada-surprise-hike-exposes-global-201512866.html

Bank of Canada highlights risk of bank sector stresses, high household debt

Bank of Canada governor Tiff Macklem says he has no plans to cut interest rates any time soon, even as higher rates intensify risks associated with household debt and vulnerabilities in the Canadian financial system. “Nobody should expect that interest rates are going to go back down to the very low levels that we’ve seen over the last decade or so,” Macklem told a news conference discussing the central bank’s latest financial system review Thursday. “We’re in a transition period to a world wher
— Read on ca.finance.yahoo.com/news/bank-canada-highlights-risk-bank-141625826.html