7 votes

Bank of Canada maintains overnight rate target at 1 ¾ percent

4 comments

  1. [3]
    Shahriar
    Link
    Seems like the general viewpoint is holding or cutting the rate. I wonder when the Bank will raise interest rates. I would love higher interest rates, but obviously not everyone thinks the same -...

    Seems like the general viewpoint is holding or cutting the rate. I wonder when the Bank will raise interest rates. I would love higher interest rates, but obviously not everyone thinks the same - with the rest of the country economically struggling to keep afloat with high levels of consumer household debt. I guess this is a reminder that we're doing alright and the focus is on inflation, being on target at two percent.

    The US-China trade war is expected to cause some struggles in the global economy so we'll see in October at the next rate change.

    Any fellow Canadians holding mortgages, are you holding on a fixed or variable rate?

    2 votes
    1. [2]
      Litmus2336
      Link Parent
      Generally I think it'd be pretty silly to hold variable rate - at 1.75% either it goes down and you refinance, or it goes up and you don't. Unless you expect rates to be stable, holding variable...

      Generally I think it'd be pretty silly to hold variable rate - at 1.75% either it goes down and you refinance, or it goes up and you don't. Unless you expect rates to be stable, holding variable hurts you, and I expect rates to be anything but stable.

      I really hope we get more time to raise rates before the bull market, but I'm not thinking we're going to have that luxury. I think central banks are going to just have to hold course.

      2 votes
      1. RapidEyeMovement
        Link Parent
        There is a good chance that Jerome Powell will lower rates this month by 50 basis points

        There is a good chance that Jerome Powell will lower rates this month by 50 basis points

        1 vote
  2. envy
    Link
    Expectation is a 25 basis point cut in the Fed Rate on September 18 for America. https://www.investing.com/central-banks/fed-rate-monitor Down to about 1% before the end of 2020. Which is when the...

    Expectation is a 25 basis point cut in the Fed Rate on September 18 for America.

    https://www.investing.com/central-banks/fed-rate-monitor

    Down to about 1% before the end of 2020. Which is when the elections will occur.

    I don't think Canada will be raising rates any time soon.

    2 votes