The Bank of Canada today increased its target for the overnight rate to 1%, with the Bank Rate at 1¼% and the deposit rate at 1%. The Bank is also ending reinvestment and will begin quantitative tightening (QT), effective April 25. Maturing Government of Canada bonds on the Bank's balance sheet will no longer be replaced and, as a result, the size of the balance sheet will decline over time.
The next scheduled date for announcing the overnight rate target is June 1, 2022
Source: Bank Of Canada press release April 13, 2022
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5 years variable closed 1.25%
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Michail Kouzminski
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Michail Kouzminski
For 23 consecutive years Michail Kouzminski successfully helping people with their buying and selling needs.
Michail is committed to provide you with efficient, honest service adapted to your plans. You'll be guided through the whole transaction process by a professional with strong background in business and negotiation. You can count on Michail's experience and deep knowledge of Real Estate Market.
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