12/06/2023
Great news! The Bank of Canada leaves Prime Rate unchanged.
โWith further signs that monetary policy is moderating spending and relieving price pressures, Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bankโs balance sheet. Governing Council is still concerned about risks to the outlook for inflation and remains prepared to raise the policy rate further if needed. Governing Council wants to see further and sustained easing in core inflation, and continues to focus on the balance between demand and supply in the economy, inflation expectations, wage growth, and corporate pricing behaviour. The Bank remains resolute in its commitment to restoring price stability for Canadians.โ - BOC
And ps: as a result some of our lenders are offering some great rate promotions that we havenโt seen in months. Call for details 780.781.6859