Bank of Canada Interest Rate Announcement January 2012
The Bank of Canada has announced that the key interest rate will remain at 1.00% This comes as no surprise as no rate hikes or cuts were anticipated by the vast majority of analysts and financial writers.
Mortgage rates however, may be on the decrease due to cheap bonds.
“A strong international demand for bonds from Canada’s biggest banks is trickling through the system and pushing mortgage rates to record lows at the consumer level.
The Bank of Montreal moved its five-year fixed mortgage rate to 2.99 per cent late Thursday — the lowest posted rate from a major bank in Canadian history.”
See cbc.ca for the full story
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The Bank of Canada key interest rate announcement schedule for 2012 is:
17 January
8 March
17 April
5 June
17 July
5 September
23 October
4 December
Tomorrow will be the first announcement of 2012 This may give us an indication of the direction of the Canadian prime rate and Canadian mortgage rates in the near future. Most analysts expect no change in the prime rate Canada tomorrow. Check back after 9AM to see the latest Bank of Canada interest rate announcement.
Tags: canada interest rate, prime rate canada, Canadian Mortgage Rates, Bank of Canada, bank of canada, Bank of Canada interest rate announcement, prime rateBank of Canada Prime Rate Update October 2011
The Bank of Canada has announced that the key overnight interest rate will stay at 1.00%. This is in line with the expectations of analysts who predicted that the Bank would hold the present rate in part due to the global economic situation.
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As for Canadian mortgage rates, we’ll publish more information on the possible direction of variable and fixed rates later this week.
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Bank of Canada Prime Rate Update September 7, 2011
As anticipated by most analysts, the Bank of Canada has decided to hold the key overnight interest rate at 1%. The prime rate was predicted to rise today as recently as a few months ago. However, the recent nasty economic news from almost all fronts helped convince the Bank of Canada to hold the Canada prime rate at the current level for the time being.
Canadian mortgage rates have already increased slightly due to the economic outlook. RBC and other banks have recently raised variable rate mortgage rates.
If your mortgage is due soon, or you want to lock in a great interest rate, you can find some of the best mortgage rates available at RateSupermarket.ca & BestMortgageOffers.ca
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Bank of Canada Interest Rate Uncertainty
The next Bank of Canada interest rate announcement is coming September 7, 2011. While an interest rate hike has been pretty much ruled out, it’s possible there may be a cut in the Bank of Canada prime rate on that date. Mortgage rates are fluctuating with some variable rates rising at certain institutions. Check back again on the 7th for the latest update.
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Bank of Canada Interest Rate Announcement July 19, 2011
The Bank of Canada has announced that the prime rate will remain at 1.00%. This was widely expected by most analysts. However, the Canada prime rate is also expected to increase by September.
Now may be a good time to look into locking in a low mortgage rate before potential interest rate hikes this fall. Compare today’s best interest rates by clicking on the table on the right to see how much you could save.
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