The Bank Of Canada Has Heald Steady - Prime Is Still 4.45%

A wee bit of a delay in getting this information out, as Jamie has been down for the past two weeks with a case of pneumonia. Fortunately, she is now on the mend and happy to report that the Bank of Canada met last week and opted to hold their rate steady again.  Core inflation fell to 2.0% in April and, despite the ongoing war in Iran driving up inflation, the Bank of Canada is willing to "bolster the Canadian economy amid unprecedented trade uncertainty and a record oil price shock" according to DLCG Chief Economist Dr. Sherry Cooper.  

We have seen the fixed rates bouncing up and down with most terms hovering between 4% - 5%. This has made variable terms more attractive.

If you are interested in a deeper dive into the Bank of Canada's decision, click here to read what Dr. Sherry Cooper has to say.