Bank of Canada boosted it's rate to 3.25%

[BobtheBuilder]

The Bank of Canada boosted its key lending rate to 3.25 per cent from 3 per cent, its third consecutive hike, to curb inflation as the economy grows. The central bank also indicated that more rate increases will be needed to rein in inflation

In a statement accompanying its decision, the bank said that “some further reduction in monetary stimulus will be required to maintain a balance between aggregate supply and demand over the next four to six quarters and keep inflation on target .”

Canada's jobless rate tumbled last month to its lowest level since at least 1976, and wages climbed at their fastest pace in more than four years, bolstering concerns that the Canadian economy may be growing briskly enough to accelerate inflation.

 

[悠着点]

所以现在variable rate失去优势啦.

 

[BobtheBuilder]

最初由 悠着点 发布
所以现在variable rate失去优势啦.

It's been reported that the rate will go up another 1-1.5% next year. So looks like it's time to lock up into any good long term rate. If you mvoe fast, you might still get good rate before the next hike. There usually is a lag between the raise of the Central bank's prime rate and the commerical bank's fixed rate.