In a scheduled announcement on March 6, 2024, the Bank of Canada decided to maintain its target for the overnight lending rate at 5%. This was its fifth consecutive hold after two interest rate hikes last summer.

Checkout what Hi.Tech Real Estate posted in their recent newsletter about the Bank of Canada Rate update.

Bank of Canada decides to hold policy rate at 5% in October. In a scheduled announcement on October 25, 2023, the Bank of Canada decided to maintain its target for the overnight lending rate at 5%. The Bank cited growing evidence of a slowdown in economic activity due to past interest rate increases, which were also helping to relieve inflation.

The Bank of Canada increases interest rates and continues quantitative tightening. Checkout what Hi.Tech Real Estate posted in their February newsletter about The Bank of Canada Rates.