01/19/2022
Will Interest Rates rise?
(This interest rate is the prime lending rate: if you have a variable rate mortgage, prime is what it is based on. If you have a home equity line of credit, that will also be impacted).
Annual inflation was 4.8 per cent in December, Statistics Canada reported Wednesday in Ottawa, from 4.7 per cent in November. The December number was in line with economists’ expectations.
Will this mean rates will rise next week? It’s a toss-up. Economist are split but many are warning they want the Bank of Canada to wait till they see the effects on the economy of the latest lockdown.
Please feel free to contact me so I can answer any of your questions.
https://www.bnnbloomberg.ca/canadian-consumer-inflation-hits-highest-rate-since-1991-1.1709723?fbclid=IwAR0mpG1f4Nt2JeMg2yPlwI1QVC0WStoeKb2Ti17dq5g9Gz_ihLLgfd-f7VM
Canadian consumer price inflation accelerated to the fastest level in three decades in December, adding pressure on the Bank of Canada to quickly start raising interest rates.
