Jan 21, 2015 - Bank of Canada lowers overnight rate target to 3/4 per cent
Follow us on...
Follow us on Twitter Follow us on Facebook
Register

Results 1 to 2 of 2

Jan 21, 2015 - Bank of Canada lowers overnight rate target to 3/4 per cent

This is a discussion on Jan 21, 2015 - Bank of Canada lowers overnight rate target to 3/4 per cent within the Dominion Lending Centres - Clear Trust Mortgages forums, part of the Corporate Sponsors category; Bank of Canada lowers overnight rate target to 3/4 per cent Link: Bank of Canada > Press > Press Releases ...

  1. #1
    Forum Beginner herefishyfishy's Avatar
    Join Date
    Apr 2010
    Location
    Richmond
    Posts
    70

    DefaultJan 21, 2015 - Bank of Canada lowers overnight rate target to 3/4 per cent

    Bank of Canada lowers overnight rate target to 3/4 per cent

    Link:
    Bank of Canada > Press > Press Releases > Bank of Canada lowers overnight rate target to 3/4 per cent

    The previous changes to the Bank of Canada prime rate (aka the overnight rate) was in the summer of 2010, when they gradually increased a total of 0.75% over a 3 month period:
    - June 1, 2010: increased from 0.25% to 0.50% (0.25% increase)
    - July 20, 2010: increased from 0.50% to 0.75% (0.25% increase)
    - September 8, 2010: increased from 0.75% to 1.0% (0.25% increase)
    - January 21, 2015: lowered from 1.0% to 0.75% (0.25% decrease)


    The next scheduled date that the Bank of Canada will announce their overnight rate target is Wednesday March 4, 2015.
    Find out how a licensed mortgage broker can be an advantage for securing a better mortgage:
    http://www.andrewleung.ca - Licensed Mortgage Broker, Mortgage Pro"fish"onal!

    An interesting study from the Bank of Canada on mortgage discounting.

  2. Remove Advertisements
    BCAquaria.com
    Advertisements
     

  3. #2
    Forum Beginner herefishyfishy's Avatar
    Join Date
    Apr 2010
    Location
    Richmond
    Posts
    70

    Default

    Here are some excerpts from the recent Bank of Canada key interest rate announcement on January 21, 2015:

    The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. ... This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada.
    Oil’s sharp decline in the past six months is expected to boost global economic growth, especially in the United States, while widening the divergences among economies.
    Outside the energy sector, we are beginning to see the anticipated sequence of increased foreign demand, stronger exports, improved business confidence and investment, and employment growth. However, there is considerable uncertainty about the speed with which this sequence will evolve and how it will be affected by the drop in oil prices.
    The negative impact of lower oil prices will gradually be mitigated by a stronger U.S. economy, a weaker Canadian dollar, and the Bank’s monetary policy response. The Bank expects Canada’s economy to gradually strengthen in the second half of this year
    The economy is expected to return to full capacity around the end of 2016, a little later than was expected in October.
    The oil price shock increases both downside risks to the inflation profile and financial stability risks. The Bank’s policy action is intended to provide insurance against these risks, support the sectoral adjustment needed to strengthen investment and growth, and bring the Canadian economy back to full capacity and inflation to target within the projection horizon.
    Find out how a licensed mortgage broker can be an advantage for securing a better mortgage:
    http://www.andrewleung.ca - Licensed Mortgage Broker, Mortgage Pro"fish"onal!

    An interesting study from the Bank of Canada on mortgage discounting.

 

 


Similar Threads

  1. Dec 3, 2014 - Bank of Canada maintains overnight rate target at 1 per cent
    By herefishyfishy in forum Dominion Lending Centres - Clear Trust Mortgages
    Replies: 0
    Last Post: 12-04-2014, 01:28 PM
  2. Oct 22, 2014 - Bank of Canada maintains overnight rate target at 1 per cent
    By herefishyfishy in forum Dominion Lending Centres - Clear Trust Mortgages
    Replies: 0
    Last Post: 11-05-2014, 06:04 PM
  3. January 17, 2012 - Bank of Canada maintains overnight rate target at 1 per cent
    By herefishyfishy in forum Dominion Lending Centres - Clear Trust Mortgages
    Replies: 1
    Last Post: 01-19-2012, 04:22 PM
  4. Bank of Canada maintains overnight rate target at 1 per cent
    By herefishyfishy in forum Dominion Lending Centres - Clear Trust Mortgages
    Replies: 4
    Last Post: 11-16-2010, 08:07 PM
  5. Bank of Canada increases overnight rate target to 1 per cent
    By herefishyfishy in forum Dominion Lending Centres - Clear Trust Mortgages
    Replies: 6
    Last Post: 09-09-2010, 12:01 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Vancouver Website Hosting Chilliwack Website Design