Blog | Catherine Methven

Canada's profligate spending forced interest rates higher: Scotiabank

11/20/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Without that boost in spending, the central bank’s key overnight lending rate would be about 3 per cent instead of the current 5 per cent, according to Scotiabank ... More

Government Intervention, Interest Rates

Canada's profligate spending forced interest rates higher: Scotiabank

Interest rates may stay higher for good: Bank of Canada's Carolyn Rogers

11/9/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada’s No. 2 official urged preparation for interest rates staying elevated for longer. ... More

Interest rates may stay higher for good: Bank of Canada's Carolyn Rogers

BoC to begin rate cuts by 2024's second quarter, market players say

11/7/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Experts are anticipating the BoC benchmark interest rate to retreat to 4% by the end of next year ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canada Living, Canada Real Estate

BoC to begin rate cuts by 2024's second quarter, market players say

No more rate hikes expected as unemployment rate rises to 21-month high

11/3/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists say. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth

No more rate hikes expected as unemployment rate rises to 21-month high

Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem

11/1/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More

Bank of Canada, Home Owners, Mortgage Rates, Mortgage Renewals

Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem

Bank of Canada delivers rate hold, but maintains hawkish bias

10/25/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada delivered its second straight rate hold today, but signalled that it remains concerned about inflationary risks and price pressures. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Real Estate, Economic Growth, Mortgage Consumers

Bank of Canada delivers rate hold, but maintains hawkish bias

Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal

10/18/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The overnight rate could settle around 3%, according to leading economist ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Canadian Housing Market, Canadian Housing Market Slowdown, Interest Rates, Mortgage Interest Costs

Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal

Economists see Bank of Canada holding on rates after surprise GDP contraction

9/1/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada's rate hiking campaign may be coming to an end. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada GDP, Canada Inflation Rate, Canada Living, Economic Growth

Economists see Bank of Canada holding on rates after surprise GDP contraction

How are mortgages keeping inflation high?

7/15/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada hiked interest rates again this week in response to persistently high inflation, prompting questions about the role of mortgages in the ongoing battle with high ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Inflation Rate, Mortgage Consumers

How are mortgages keeping inflation high?

When will the Bank of Canada put the brakes on its rate-hike campaign?

6/27/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Economists weigh in on the possibilities for the central bank’s policy rate ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers

When will the Bank of Canada put the brakes on its rate-hike campaign?

BoC debated waiting until July to hike rates, but says data prompted it to act sooner

6/21/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Interest Rates, Mortgage Rates Canada, Variable Rate Mortgages

BoC debated waiting until July to hike rates, but says data prompted it to act sooner

Canada's debt rises as rates cut into households' cash flow

6/14/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Hawkish monetary policy and inflation posing headwinds for borrowers, latest figures suggest ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, NonMortgage Debt

Canada's debt rises as rates cut into households' cash flow

Canada mortgage market crisis coming amid high rates?

6/13/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Could the prospect of persistently high rates spell trouble for the market’s stability? ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canada GDP, Canada Living, Canada Real Estate, Economic Growth, Mortgage Market, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends

Canada mortgage market crisis coming amid high rates?

Governments shunting 'dirty work' on inflation to Bank of Canada, CIBC says

6/13/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada will have to keep rates higher for longer unless governments do more to dial back their spending, one of the country’s largest commercial lenders warned. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Government Intervention, Government of Canada

Governments shunting 'dirty work' on inflation to Bank of Canada, CIBC says

Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow

6/11/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year high ... More

Fixed Rate Mortgages, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Variable Rate Mortgages

Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow

Why the Bank of Canada rate hike won't be one and done

6/9/2023 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Many economists are now pencilling in another hike in July ... More

Bank of Canada, Bank of Canada Benchmark Rate

Why the Bank of Canada rate hike won't be one and done

Bank of Canada says coronavirus to trigger biggest slump ever, drops forecasts

4/15/2020 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada on Wednesday said the coronavirus outbreak was set to trigger the biggest ever near-term Canadian downturn but suspended its regular economic forecasts, citing ... More

Bank of Canada, Canada GDP, Canada Real Estate, Economic Growth

Bank of Canada says coronavirus to trigger biggest slump ever, drops forecasts

Bank of Canada: Key interest rate cut to lowest level

3/27/2020 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Coronavirus, Economic Growth

Bank of Canada: Key interest rate cut to lowest level

Big Six banks slash prime rates by half a point

3/17/2020 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More

Bank of Canada, Bank of Canada Benchmark Rate, Canadian Banks, Household Debt, Variable Rate Mortgages

Big Six banks slash prime rates by half a point

Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

3/13/2020 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the economic ... More

Bank of Canada, Economic Growth, Household Debt, Variable Rate Mortgages

Bank of Canada slashes policy rate to 0.75 per cent in surprise cut

BoC rate must be at 1.5%, think-tank's fiscal policy council says

3/2/2020 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Just a few days before the Bank of Canada’s March 4 meeting, the Monetary Policy Council of the C.D. Howe Institute called on the institution to lower its benchmark policy ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate

BoC rate must be at 1.5%, think-tank's fiscal policy council says

Canadian households to get short break from rising debt costs

12/31/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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TD economists says the cost of servicing debts should ease early in 2020 ... More

Bank of Canada Benchmark Rate, Canada Living, Canadian Debt, Household Debt, Mortgage Consumers, Mortgage Rates Canada, Mortgage Trends, Mortgages & Real Estate, NonMortgage Debt, Variable Rate Mortgages

Canadian households to get short break from rising debt costs

Canadian mortgage performance to remain stable in 2020

12/18/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Canadian mortgage lenders shouldn’t worry too much about the performance of their loans in 2020 according to a new report from Fitch Ratings. ... More

Canada Real Estate, Canadian Credit Market, Canadian Housing Market, Canadian Mortgage Market, Canadian Real Estate Market Outlook, Housing Correction Canada

Canadian mortgage performance to remain stable in 2020

Bank of Canada keeps key interest rate target on hold

12/5/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada kept its key interest rate on hold as expected at 1.75 per cent where it has been for more than a year as it said Wednesday that ongoing trade conflicts and ... More

Bank of Canada, Bank of Canada Benchmark Rate, Mortgage Rates Canada, Variable Rate Mortgages

Bank of Canada keeps key interest rate target on hold

Mortgage interest cost index slows but cost of living remains higher

10/21/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The cost of living was higher across many products and services in September. ... More

Cost of Living, Mortgage Consumers, Mortgage Trends, Personal Finance, Statistics Canada

Mortgage interest cost index slows but cost of living remains higher

Bank of Canada keeps key interest rate steady

7/10/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada is keeping its trend-setting interest rate steady at 1.75 per cent in a decision widely expected by economists. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Household Debt, Interest Rates, Mortgage Consumers, Mortgage Rates Canada, Mortgages & Real Estate, Variable Rate Mortgages

Bank of Canada keeps key interest rate steady

Bank of Canada to cut rates in October, then twice more

7/3/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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The Bank of Canada will start cutting its key lending rate in October as annual economic growth slows to one per cent in 2020, according to Capital Economics. ... More

Bank of Canada, Bank of Canada Benchmark Rate, Home Buyers, Interest Rates, Mortgage Rates Canada

Bank of Canada to cut rates in October, then twice more

Inflation surges to highest in seven years, giving Bank of Canada room to hold rates

6/20/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Canadian inflation quickened in May on increases across all eight major components, giving the Bank of Canada plenty of scope to hold interest ... More

Bank of Canada, Bank of Canada Benchmark Rate, Economic Growth, Interest Rates

Inflation surges to highest in seven years, giving Bank of Canada room to hold rates

Fixed or Variable Rate?

5/6/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Goodbye, variable-rate mortgage. Everyone’s going fixed these days, and for good reason. ... More

Fixed Rate Mortgages, Home Buyers, Interest Rates, Mortgage Consumers, Mortgage Market, Mortgage Rates, Mortgage Rates Canada, Mortgage Refinancing, Mortgage Trends, Mortgages & Real Estate

Household debt to have knock-on effect upon banks, economy

4/29/2019 | Posted in Canadian Economy and Interest Rates by Catherine Methven
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Canadians now owe an average of $1.79 for every dollar of disposable income. ... More

Bank of Canada, Bankruptcy, Canada, Canadian Banks, Household Debt, Insolvency, Interest Rates, NonMortgage Debt

Household debt to have knock-on effect upon banks, economy

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