The Bank of Canada made headlines again today, find out why here!
At 10 am eastern, the Bank of Canada increased its policy interest rate for the sixth time this year to combat inflation. The latest increase was 50 basis points, roughly what the market anticipated, driving the Bank’s overnight rate up to 3.75%.
Bringing inflation back to the Bank’s 2% target may take time and result in more monetary tightening before the job is done.
We follow the Bank’s commentary and outlook closely and summarize both on our website.
As much as we might like to, First National cannot change Canada’s monetary policy which has a host of implications for the economy and housing affordability. But we can support you and your clients with good service and good products as the market resets.
Please speak to us for more information.