Each year, the Bank of Canada has eight pre-specified dates for announcing any changes to the official interest rate. The scheduled dates for the interest rate announcements for 2024 are as follows:
The Bank of Canada delivered a status quo rate decision, keeping its target rate and bond purchases unchanged.
On July 14th, the Bank of Canada reiterated its commitment to hold the policy rate at its current record-low level. What does that mean for mortgage consumers?