Bank of Canada Rate Announcement
The Bank of Canada announced this morning that it will maintain it’s benchmark rate at 1.25%. The last hike was in January 2018, up from 1%.
Economists believe that a rate hike will occur at the next rate announcement on July 11th. Economists have said that the announcement hinted at that July increase. All of the big banks in Canada expect the benchmark rate to increase at least once more in 2018.
The Bank of Canada stated that changes in April reinforce their view that, “higher interest rates will be warranted to keep inflation near target.”
We’ll keep you updated as new rate announcements come out.
” BMO is forecasting hikes in July and October, while CIBC and TD expect a July increase to the last one for 2018.”Global News
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LinkedIn: Darlene Hanley