By Rebecca Wissink
If you consume any amount of media you likely saw a lot of headlines about rising interest rates and the spring housing market recently. That’s because on January 26, 2022 the Bank of Canada (BoC) was announcing an interest rate decision. Most of these headlines were doom and gloom scenarios that have now disappeared given the BoC held its lending rate at 0.25%. The next scheduled date for the bank to announce a change is March 2, 2022. You can except headlines to ramp up again in the week or so prior to this announcement.
Why would the BoC change its overnight or “policy interest rate?” To meet the institution’s policy requirements to maintain inflation around 2%. In a nutshell, in response to the economic shocks of the COVID-19…
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