January 25 Bank of Canada Interest Rate Hike

Blog by Paul Thomas, REALTOR | January 25th, 2023

Bank of Canada raises the lending rate by 0.25%.

Next schedlued date for interest rate adjustments is March 8, 2023.

Inflation is coming down slowly, but still above the target of 2%. The irony is that the increased interest rates are contributing to increased inflation because housing costs are going up due to the increasing rates!