CONTACT
RSS

April 2023 | Bank of Canada Rate Announcement

The Bank of Canada has decided to maintain its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. The bank is also continuing its policy of quantitative tightening.

Inflation in many countries is easing, but measures of core inflation in advanced economies suggest persistent price pressures, especially for services. Global economic growth has been stronger than anticipated, but is expected to weaken as tighter monetary policy continues to feed through those economies.

In Canada, demand is still exceeding supply and the labour market remains tight. Economic growth in the first quarter looks to be stronger than projected in January, but consumption is expected to moderate this year.

CPI inflation is expected to fall quickly to around 3% in the middle of this year and then decline more gradually to the 2% target by the end of 2024. The Bank remains prepared to raise the policy rate further if needed to return inflation to the 2% target.

Don't hesitate to contact me with Q's or for a referral to an amazing mortgage broker! Let's make your real estate dreams a reality.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

Watch Video
Read Full Report 

Read

March 2023 | Bank of Canada Rate Announcement

The Bank of Canada has decided to maintain the overnight rate target at 4.5%, the Bank Rate at 4.75%, and the deposit rate at 4.5%. The Bank is also continuing its policy of quantitative tightening. The global economic environment is consistent with the Bank's January Monetary Policy Report, with inflation decreasing due to lower energy prices and global growth continuing to slow.

In Canada, economic growth was flat in the fourth quarter of 2022, and there was a significant slowdown in inventory investment. Consumption, government spending, and net exports all increased, but household spending was impacted by restrictive monetary policy, and business investment weakened.

The labour market remains tight, with employment growth strong, but productivity has declined. Inflation decreased to 5.9% in January due to lower energy prices, but price increases for food and shelter remain high.

The Bank expects CPI inflation to come down to around 3% in the middle of this year. The Bank will continue to monitor economic developments and the impact of past interest rate increases, and is prepared to raise the policy rate further if necessary to restore inflation to the 2% target. The Bank is committed to achieving price stability for Canadians.

Reach out with your questions about how this impacts your home buying or selling decision. And if you need a mortgage broker, I can connect to you a like-minded individual.

Jason Streich⁠
Greater Calgary Real Estate⁠
403 807 2204⁠
jstriech@shaw.ca⁠ 

Watch Video
Read Full Report 

Read
Categories:   15th of the Month Campaign | Airdrie, Airdrie Real Estate | Arbour Lake, Calgary Real Estate | Aspen Woods, Calgary Real Estate | Auburn Bay, Calgary Real Estate | Awards & Recognition | Bankview, Calgary Real Estate | Beltline, Calgary Real Estate | BoC Rate Announcement | Bowness, Calgary Real Estate | Bridlewood, Calgary Real Estate | Calgary, Calgary Real Estate | Canyon Meadows, Calgary Real Estate | Cochrane, Cochrane Real Estate | Collingwood, Calgary Real Estate | Coventry Hills, Calgary Real Estate | Dalhousie, Calgary Real Estate | Douglasdale/Glen, Calgary Real Estate | Dover, Calgary Real Estate | Downtown East Village, Calgary Real Estate | Downtown West End, Calgary Real Estate | Edgemont, Calgary Real Estate | Erin Woods, Calgary Real Estate | Home Buying | Home Selling | Housing Market Update | Inglewood, Calgary Real Estate | Insider Info | Kingsland, Calgary Real Estate | Legacy, Calgary Real Estate | Lower Mount Royal, Calgary Real Estate | Marlborough Park, Calgary Real Estate | McKenzie Lake, Calgary Real Estate | Nolan Hill, Calgary Real Estate | Panorama Hills, Calgary Real Estate | Parkdale, Calgary Real Estate | Pineridge, Calgary Real Estate | Point McKay, Calgary Real Estate | Rocky Ridge, Calgary Real Estate | Rural Rocky View MD, Rural Rocky View County Real Estate | Scenic Acres, Calgary Real Estate | Shawnessy, Calgary Real Estate | Southwood, Calgary Real Estate | Springbank Hill, Calgary Real Estate | St Andrews Heights, Calgary Real Estate | Strathmore, Strathmore Real Estate | Sunalta, Calgary Real Estate | Tuscany, Calgary Real Estate | Walden, Calgary Real Estate | West Hillhurst, Calgary Real Estate | What's Happening in Calgary | Whitehorn, Calgary Real Estate | Wildwood, Calgary Real Estate
Categories
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.