rate hikes

“Extremely resilient” variable-rate borrowers face latest test as prime rate rises to 7.20%

July 17, 2023 No Comments

Variable-rate mortgage borrowers, who have already seen their interest costs rise by more than 70% over the past year, were hit with yet another hike last week as prime rate reached a 22-year high of 7.20%.

Bank of Canada delivers 10th rate hike, markets not convinced this will be the last

July 12, 2023 No Comments

As was widely expected, the Bank of Canada today delivered another quarter-point rate hike today, bringing its benchmark rate to a 22-year high of 5%.

Fixed mortgage rates continue to rise in 2023

Fixed mortgage rates surge again, pushing rates under 5% to the brink

June 15, 2023 No Comments

Fixed mortgage rates are once again on the rise, with rates under 5% quickly becoming a distant memory.

Bank of Canada not ruling out additional rate hikes just yet

March 9, 2023 No Comments

The Bank of Canada delivered its first rate pause of the past year yesterday, but Deputy Governor Carolyn Rogers made clear it remains a “conditional pause.”

Bank of Canada rate decision January 2023

Bank of Canada expected to “nudge” rates another 25 bps higher

January 23, 2023 No Comments

The Bank of Canada will deliver its first rate announcement of the year this week, where markets and economists overwhelmingly expect a 25-bps rate hike.

“Explosive” job growth raises the likelihood of another rate hike

January 8, 2023 2 Comments

Job growth is usually celebrated as a sign of a strong economy, but it’s not the kind of thing the Bank of Canada wants to see as it struggles to bring down inflation.

Tiff Macklem delivering 2022 year-end speech

“Much higher” interest rates will be needed if inflation sticks, says Macklem

December 12, 2022 No Comments

The Bank of Canada’s interest rate hikes this year have “begun to work” to cool Canada’s overheated economy and slow inflation, the central bank’s Governor said on Monday.

Tiff Macklem says Canada needs more rate hikes

BoC’s Macklem: More interest rate hikes are “warranted”

October 6, 2022 4 Comments

Despite raising interest rates by 300 basis points with five consecutive hikes this year, the Bank of Canada confirmed on Thursday that rates need to go higher yet.

Prime rate rises to 5.45% following the BoC’s 75-bps rate hike

September 7, 2022 No Comments

Variable-rate mortgage holders will see their interest costs rise once again starting on Thursday as prime rate rises to 5.45%.

The Bank of Canada’s September rate hike will be its last: CIBC

August 31, 2022 1 Comment

If CIBC economists are right, the Bank of Canada’s expected rate hike next week will be its last of this rate-hike cycle.