The Bank of Canada has cut its key interest rate for a second consecutive time
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👉 Bank of Canada Cuts Key Interest Rate Again 👈 The Bank of Canada has announced a cut in the policy interest rate to 4.50%. This decision was expected, with the the central bank reducing rates by 25 bps for the second consecutive month. The decline in Canadian CPI, most recently reported at 2.7% in June 2024, down from 4.0% in August 2023, along with factors like rising unemployment, stagnant wage growth, and receding GDP levels, have contributed to this interest rate adjustment. Updated base rates as at 10:00am, July 24, 2024: Fixed: 2y GoC: 3.61% 5y GoC 3.27% 10y GoC: 3.35% 5y CMB: 3.48% 10y CMB: 3.75% US - 5y UST: 4.17% US - 10y UST: 4.24% Floating: Key Rate: 4.50% Prime: 6.70% US - SOFR: 5.34% #BankOfCanada #InterestRateCut #CRE
Bank of Canada lowers key interest rate to 4.5%
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The Bank of Canada is likely to maintain its current interest rate of 5%, with no indication of future cuts despite inflation returning to target levels. Governor Tiff Macklem hinted at no further rate increases but refrained from specifying a timeline for cuts, waiting for clear downward momentum in core inflation measures. Concerns about reversing rate decisions too soon and stimulating the real estate market are also influencing the bank's cautious approach. Mixed economic data and an encouraging CPI report are shaping the bank's decision-making process.
Bank of Canada expected to hold rates steady, even with inflation back in target range — The Globe and Mail
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Interest rate cuts are coming, but the Bank of Canada won't say when Contact me to discuss the latest scoop in real estate! #realestateToronto #gta #realestategta #torontohomestaging #torontorealtor #torontorealtors #mississauga #torontostagers #torontorealestate #gtahomes
Interest rate cuts are coming, but the Bank of Canada won't say when
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"Bank of Canada's recent summary of deliberations showed some governing council members thought the risk was lower and that higher rates would slow economic activity by more than necessary", hence today's rate cut. At last, today, the Bank of Canada marked a major turning point in its fight against inflation by lowering its key interest rate for the first time in more than four years. This made it the first central bank in the G7 to cut rates. Governor Tiff Macklem said the central bank is more confident that inflation is moving closer to its two percent target, citing various indicators that suggest price pressures have retreated. #interestrates #bankofcanada #lendingrates #mortgagerates #financialplanning #centralbank
Bank of Canada's Tiff Macklem signals more rate cuts possible after historic shift
financialpost.com
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The Bank of Canada has left its policy interest rate unchanged in its last scheduled decision of 2023, keeping rates where they are for a third consecutive announcement amidst evidence that previous hikes are proving effective in cooling the economy. #investment #interestrates #Bank #bank #bankofcanada
Bank of Canada reveals final rate decision of 2023
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| Commercial & Residential Real Estate Expert | Certified Canadian Mentor | Sales Leader| Investor| | Ex-Banker| Business Lending Expert | Shareholder@EXP | 2X International Bestselling Co-Author | 2X MEGA ICON |
🚀💼 🚨Breaking- Bank of Canada Rate Update! The Bank of Canada keeps the overnight rate steady at 5%. With inflation data indicating a slowdown, the recent rate hikes seem to be taking effect. This decision marks the third consecutive maintenance of the key interest rate, reflecting a cautious approach amid evolving economic conditions! #BankofCanada #EconomicUpdate #SteadyRates #realtyintelligencegroup #expproud #marketupdate #interestrates
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Interest rate cuts are coming, but the Bank of Canada won't say when Contact me to discuss the latest scoop in real estate! #realestateToronto #gta #realestategta #torontohomestaging #torontorealtor #torontorealtors #mississauga #torontostagers #torontorealestate #gtahomes
Interest rate cuts are coming, but the Bank of Canada won't say when
roomvu.com
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Interest rate cuts are coming, but the Bank of Canada won't say when Contact me to discuss the latest scoop in real estate! #realestateToronto #gta #realestategta #torontohomestaging #torontorealtor #torontorealtors #mississauga #torontostagers #torontorealestate #gtahomes
Interest rate cuts are coming, but the Bank of Canada won't say when
roomvu.com
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Interest rate cuts are coming, but the Bank of Canada won't say when Contact me to discuss the latest scoop in real estate! #realestateToronto #gta #realestategta #torontohomestaging #torontorealtor #torontorealtors #mississauga #torontostagers #torontorealestate #gtahomes
Interest rate cuts are coming, but the Bank of Canada won't say when
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*BANK OF CANADA 🇨🇦 Interest Rate Announcement* July 24, 2024 The Bank of Canada (BOC) cut its key interest rate to 4.5 per cent today, with governor Tiff Macklem saying during a news conference that it would be reasonable to expect further rate cuts if inflation continues to ease. The cut was widely expected by economists after inflation eased in June. It marked the central bank's second consecutive cut after last month's meeting, when it cut rates for the first time since March 2020. The bank brought key interest rates down by 25 basis points to 4.75 per cent during that June meeting. The rate had previously been held at five per cent since July 2023. The bank began a long and aggressive cycle of rate hikes in April 2022 to tame persistently high inflation. *The BOC will make its next interest rate decision on September 4th 2024. #bankofcanada #interestrates #ratecut #rateannouncement
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