BoC Keeps Key Rates Unchanged At 1% As Expected

Bank of Canada Keeps Key Rates Unchanged At 1.00% As Expected

Bank of Canada Keeps Key Rates Unchanged At 1.00% As Expected.

BOC rate hike sept62017

BoC raises Canadian GDP growth projections for 2018 to 2.1% (from 2.0%)
BoC lowers Canadian GDP growth projections for 2019 to 1.5% (from 1.6%
BoC cites “substantial uncertainty” regarding geopolitical, fiscal and trade developments

The Bank of Canada raised the overnight rate to 1 per cent on September 6, 2017 and Governor Stephen Poloz followed that up saying there “is no predetermined path for interest rates from here.”

“Monetary policy will be particularly data dependent in these circumstances and, as always, we could still be surprised in either direction”
BoC Governor Stephen Poloz

Bank of Canada has hiked key interest rate twice this year, in July and September.

 

A news conference with bank governor Stephen Poloz and senior deputy governor Carolyn Wilkins is set for 11:15 a.m. ET.


A survey released Monday by Canada’s biggest insolvency firm, MNP Ltd., indicates one in three respondents is already feeling the impact of higher rates. 42% of respondents said they are just $200 away from not being able to pay their bills.

Canada’s inflation rate was up 1.6 per cent in September led by higher gasoline prices, up from 1.4 per cent a month earlier Statistics Canada reported.

Source: BoC, MNP Ltd (survey), Statistics Canada

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