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Bank of Canada increases policy interest rate by 50 basis points

Bank of Canada increases policy interest rate by 50 basis points

The Bank of Canada today increased its target for the overnight rate to 1½%, with the Bank Rate at 1¾% and the deposit rate at 1½%. The Bank is also continuing its policy of quantitative tightening (QT). Inflation globally and in Canada continues to rise, largely driven by higher prices for energy and food. In […]

Bank of Canada announces 0.5% interest rate increase

Bank of Canada announces 0.5% interest rate increase

The Bank of Canada has announced a 0.5% increase to its benchmark interest rate, a move that signals the central bank’s largest single rate hike for over two decades. The decision, revealed at the Bank’s third scheduled interest rate announcement of the year, marks the second consecutive hike to its trendsetting rate after March’s quarter-point […]

FEDERAL BUDGET ACTIONS TO INCREASE SUPPLY OF HOUSING

FEDERAL BUDGET ACTIONS TO INCREASE SUPPLY OF HOUSING

TRREB ENCOURAGED BY FEDERAL BUDGET ACTIONS TO INCREASE SUPPLY OF HOUSING The Toronto Regional Real Estate Board (TRREB) is applauding the federal government for making housing affordability a priority of the 2022 Federal Budget but is questioning the need and effectiveness of some of the announced actions. Specifically, TRREB is encouraged that the budget includes […]

Bank of Canada raises interest rates to 0.5 per cent, pushing borrowing costs up for first time since 2018

Bank of Canada raises interest rates to 0.5 per cent, pushing borrowing costs up for first time since 2018

  The Bank of Canada raised its policy interest rate Wednesday, pushing up borrowing costs for the first time since 2018 and kicking off a much-anticipated rate hike cycle despite heightened economic uncertainty caused by Russia’s invasion of Ukraine. The central bank’s governing council voted to increase the key overnight interest rate to 0.5 per […]