WHATS THE NEXT MOVE EXPECTED FROM THE BANK OF CANAD?
Thursday Sep 28th, 2023
The Bank of Canada decided not to increase the prime rate in its September announcement, but Canadian homeowners and buyers shouldn’t assume the central bank is done on its rate-hiking path.
The central bank kept its policy rate unchanged on September 6, it also reiterated its commitment to restoring inflation to its 2% target, emphasizing it was willing to hike again if economic indicators don’t play out as expected. Inflation doesn't seem to be going in the desired direction!