Bank of Canada raises benchmark interest rate to 1.5%

本帖由 ccc2018-07-11 发布。版面名称:渥太华华人论坛

  1. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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  2. Bank of Canada raises benchmark interest rate to 1.5%
    For the fourth time in a little over a year, the Bank of Canada has raised its benchmark interest rate, a move that will increase the cost of borrowing for Canadians with variable-rate mortgages and lines of credit.
    Central bank has raised its rate 4 times since last summer as economy has heated up
    Pete Evans · CBC News · Posted: Jul 11, 2018 10:00 AM ET | Last Updated: 6 minutes ago

    The Bank of Canada has decided to raise its benchmark interest rate to 1.5 per cent.

    The bank's rate, known as the overnight rate, is the interest that retail banks have to pay for short term loans, but it affects what that consumers pay to those banks for things like mortgages, lines of credit and savings accounts.

    Every six weeks, the bank meets to decide on what its interest rate will be, based on what it sees happening in the economy. This time, the bank has decided to raise its rate by 25 basis points — 0.25 percentage points — to 1.5 per cent. It's the fourth time the central bank has raised its rate since last summer.

    The bank's next decision on interest rates is expected on Sept. 5.

    The central bank tends to cut its rate when it wants to stimulate the economy and raise it when it wants to keep a lid on inflation.


    [​IMG]
    The Bank of Canada cut rates aggressively during the last two major downturns, and is now in the middle of a slow process of beginning to get rates back to more normal levels. (Camile Gauthier/CBC)

    The move was exactly what economists who monitor the bank were expecting, as a recent slate of numbers from Statistics Canada suggest the economy is expanding, the job market is doing well, and inflation is inching higher.

    In its decision to hike, the bank noted in a statement that the housing market is stabilizing, commodities such as oil are starting to rally, and businesses are starting to spend again. From the bank's point of view, those are all good signs for the economy.

    But the bank also said it is keeping an eye on the ongoing tariff dispute, specifically those on Canadian steel and aluminum. On the whole, the bank doesn't think the impact will be too harsh.

    "Although there will be difficult adjustments for some industries and their workers, the effect of these measures on Canadian growth and inflation is expected to be modest," the bank said.

    Bank governor Stephen Poloz will appear alongside deputy governor Carolyn Wilkins at 11:15 a.m. ET on Wednesday morning to talk about why the bank decided to hike, and to discuss the bank's quarterly Monetary Policy Report, which outlines the central bank's overall views on the Canadian economy.
     
  3. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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    upload_2018-7-11_11-26-18.png

    Kevin Carmichael
    July 11, 2018
    11:08 AM EDT

    The Bank of Canada raised interest rates July 11 because Stephen Poloz’s tale about how the economy would recover from the Great Recession finally is coming true.

    Most everyone assumed the central bank would lift the benchmark rate a quarter point to 1.50 per cent. The few who didn’t thought policy makers would be spooked by what President Donald Trump has in store for global trade. On the eve of the interest-rate announcement, the U.S. escalated its trade war with China, scheduling tens of billions in additional tariffs.

    Canada also is on Trump’s hit list. The central bank now reckons the combination of U.S. duties on Canadian lumber, newsprint, aluminum, and steel — and the chilling effect of trade uncertainty on investment — will subtract two thirds of a per cent from gross domestic product by 2020, an increase from its previous estimate in April.

    That’s the equivalent of about $12 billion, so it’s not nothing.
     
  4. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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  5. longshan

    longshan 知名会员 ID:79817

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    So we still have one good year to sell RRSP.
    :tx:
     
  6. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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    Why withdraw RRSP?
     
  7. 春夏秋鼕

    春夏秋鼕 新手上路 ID:145219

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    I guess "sell rrsp" meant changing rrsp portfolio
     
  8. chengda

    chengda 房贷 ID:76794

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    RBC 紧跟 提高利率
    RBC Royal Bank increases prime rate
    TORONTO, July 11, 2018 - RBC Royal Bank today increased its prime rate by 25 basis points to 3.70 per cent from 3.45 per cent, effective July 12, 2018.
     
  9. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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    You two can negotiate. :D
     
  10. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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    The right thing to do. :D
     
  11. Jay Wang

    Jay Wang 薄皮大馅 ID:80963 VIP

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    该喷呢,还是赞呢!?
     
  12. ccc

    ccc 难得糊涂 ID:6614 管理成员 VIP

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    赞啊!说明经济形势很好啦。
     
  13. 依依

    依依 新手上路 ID:149584

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    如何影响房价?
    今年是买还是不买?
     
  14. 我来说两句

    我来说两句 知名会员 ID:33948 VIP

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    应该涨了,加油!
     
  15. longshan

    longshan 知名会员 ID:79817

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    changing rrsp portfolio to fix income.
    :zhichi:
     
  16. uglyducking

    uglyducking 不与傻瓜论短长 ID:13040 VIP

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    :jiayou:利好啊!:jiayou:
     
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