The Bank of Canada building is pictured in Ottawa on Tuesday, Dec. 6, 2022. THE CANADIAN PRESS/Sean Kilpatrickincreasing it to 4.5 per cent in DecemberWhile many homeowners with variable rate mortgages and lines of credit have seen their monthly mortgage payments increase by hundreds of dollars a month, some industry analysts believe the time for rate hikes has come to an end.
"I think inflation data is going to come in that the bank is going to be reasonably happy with, allowing the bank to continue to hold on interest rates throughout the entire year," he said., said he believes the central bank may raise rates a quarter of a per cent in January and again in March, before putting them on hold for the rest of the year.
It will be 12 by August 😉
And it hasn’t worked. So what now?
Doesn’t sound encouraging.
They want you on your knees.
Yes. Inflation will be back at 2% by the time the interest rate gets to 9%. Otherwise, you can adjust your target to 4%-5% Inflation rate. Canadians will understand. They like taxes
All the rate hikes are doing is making banks richer.
Raising interest rates to stem inflation is archaic. People will losing everything before the hikes are over while the government ignores big corporations making record profits off of those same people. Oil and Food Supply the biggest contributors to inflation. Regulate that.
Hopefully keep it up…
Why no mention of “We want to be very clear—Canadians can be confident that borrowing costs are going to remain very low for a long time,” Tell the entire story so the reader gets the full picture.
I hope rates continue to rise. I am rich and have no debt. But woke Liberals certainly do!
Bank of Canada making a huge mistake by still raising interest rates. A very painful recession is inevitable especially when home owners will not be able afford to pay their existing mortgages and start selling off, bringing the housing market to a crash. Expect decade of mess!
Yes it will rise one more time 1/4 point is my guess
Very likely, yes.