604homesblog

The Bank of Canada cut it's overnight rate by 50 basis points,or 1/2 a percent, to 3% this morning. The major bank will most likey respond with a cut in their mortgage rates. The rationale for the cut was that:Growth in the global economy has weakened, reflecting the effects of a sharp slowdown in the U.S. economy and ongoing dislocations ...

RBC reported today that they: We look for the Bank of Canada to slash the overnight rate by 50 bps to 3% and expect the statement will reinforce policymakers’ concerns about Canada’s economic prospects given the sustained volatility in financial markets, rising cost of capital and growing downside risks to the US economy.   ...

The Bank of Canada has cut the target for it's overnight lending rate by half a percentage point today and the major banks have already started to respond by lowing their prime lending rate by an equal amount. This will help to spurr on the Spring real estate market in Metro Vancouver as every small decrease in interest rates brings about ...

The Bank of Canada (BOC) cut their overnight by 25 basis point and the U.S. Federal Reserve cut it's overnight rate by 75 basis points. The BOC says they were prompted to do this as “further stimulus is likely to be required in the near term to keep aggregate supply and demand in balance and return inflation to the target over the ...