Future interest Rate Hikes for the Bank of Canada The Bank of Canada, in an unexpected move, raised interest rates by 0.25% on June 7, 2023.  The prime rate now stands at 4.75%.  The Bank of Canada wants to see inflation at about 2% and the numbers were showing that this was not being achieved so the decision was made to raise the rate. There may be further interest rate hikes in the near f ...

Future Interest Rate Moves – June 1, 2023 Canada’s Gross Domestic Product (GDP) is showing underlying strength. April saw growth in the GDP and there is modest growth expected for the second quarter in Canada. The strength of housing is surprising to many economists given the recent increase in interest rates. Based on all this the expectation is that the interest rate will not see a chang ...