Media Relations Ottawa, Ontario March 12, 2025 The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%. The Canadian economy entered 2025 in a solid position, with inflation close to the 2% target...
By Matthew Sellers Canadian markets have taken a hard hit as President Donald Trump confirmed that the planned 25 percent tariffs on all imports from Canada and Mexico would take effect at the end of the night. The announcement has rattled investors, leading to a steep decline...
By Fergal McAlinden The federal government is delaying plans to increase taxes on capital gains until the beginning of next year, with the hike – announced in last year’s federal budget – now scheduled to come into effect on January 1, 2026. Finance minister Dominic LeBlanc said on...
By Fergal McAlinden 29 Jan. 2025 The Bank of Canada has lowered its benchmark rate again, making a sixth consecutive cut amid continuing signs of a slowing economy and falling inflation. The central bank said on Wednesday morning that it had trimmed the key rate by 25 basis points,...
Written by Jared Lindzon When it comes to predicting mortgage rates, the only thing Canada’s mortgage experts are certain of right now is that nothing is certain. Over the past week, the Canadian 5-year bond yield has skyrocketed from 2.96% up to 3.28% this past Wednesday, before settling back...
By Fergal McAlinden Canada’s annual inflation rate dropped to 1.9% in November, a lower reading than economists had expected as mortgage interest costs continued to fall. Statistics Canada said on Tuesday morning that the consumer price index (CPI) dipped from a 2% October reading last month with the...
By Fergal McAlinden New rules aimed at boosting mortgage affordability for Canadians are coming into effect on Sunday (December 15) – but while those may have some impact for borrowers on the margins, calls are continuing for the federal government to focus on ramping up home construction...
By Fergal McAlinden 11 Dec. 2024 The Bank of Canada has lowered its overnight interest rate by 50 basis points, making a second consecutive oversized cut in response to a spike in unemployment and growing signs of a weakening economy. The central bank announced its fifth rate reduction of...
By Camille Joyce Lisay US president-elect Donald Trump has issued a bombshell warning to impose a 25% tariff on all products entering the country from Canada and Mexico starting on the first day of his new administration. In a post on his social media platform Truth Social on...
The Canadian Press The national banking regulator says it will no longer require borrowers with uninsured mortgages to undergo a stress test when switching providers. The Office of the Superintendent of Financial Institutions says it will end the policy for lenders to apply the minimum qualifying rate...