#bankofcanada #canadianrealestate #canadianeconomy
The Bank of Canada raised interest rates this morning by 25bps, soon after Equifax broke news that non-mortgage (credit card, auto loan, line of credit) delinquencies in Canada are surging. The Bank noted that the hot economy, resurgent inflation, and strong demand pushed it to increase the cost of borrowing, with the policy rate now sitting at 4.75%.
Links:
Bank of Canada raises policy rate 25 basis points, continues quantitative tightening:
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The Bank of Canada's 'conditional pause' on interest rates may be over — so brace for another hike soon:
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Case for another Bank of Canada rate hike built on wrong indicators:
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Bank of Canada ends pause on hikes, raises policy rate by 25 basis points:
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More Canadians missing payments as they sink deeper into debt: Equifax:
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Bank of Canada Upends Markets by Boosting Policy Rate to 4.75%:
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Rising wages could thwart Bank of Canada's plans for low inflation:
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Increased Demand for Credit Continues and Delinquency Rates Rise as Some Consumers Struggle with Affordability:
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Bank of Canada says mortgage payments could spike as much as 40 per cent:
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Canada 5 Year Government Bond:
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