This morning at its June 1, 2010 meeting, the Bank of Canada raised its key overnight lending rate (the rate at which it lends funds to chartered banks) one-quarter per cent (25 basis points) to 0.5%, its first rate hike in almost three years. What can we expect? Banks will be increasing their prime lendingContinue reading “Bank Of Canada Raises Interest Rate to 0.5% At June 2010 Meeting”
Tag Archives: economy
New Waterfront Hotel, Convention Centre, Public Marina Coming Soon To Sooke
What a difference a good council can make. Since being elected last November, the new Sooke Municipal Council has been busy. They’ve arranged for several provincial government grants for public projects, installed nearly three kilometres of new sidewalks, pushed ahead with plans for downtown revitalization, and now, finally, Sooke is going to get its hotel.Continue reading “New Waterfront Hotel, Convention Centre, Public Marina Coming Soon To Sooke”
Bank Of Canada Cuts Interest Rate to 0.25% At April 2009 Meeting
To the surprise of many analysts, this morning at its April 21, 2009 meeting, the Bank of Canada cut its key overnight lending rate (the rate at which it lends funds to chartered banks) another half-percent to 0.25%, continuing the trend of historic low rates in an effort to stimulate the economy. Since December 2007,Continue reading “Bank Of Canada Cuts Interest Rate to 0.25% At April 2009 Meeting”
Bank Of Canada Cuts Interest Rate to 0.5% At March 2009 Meeting
UPDATE: CLICK FOR THE APRIL 21st, 2009 INTEREST RATE ANNOUNCEMENT This morning at its March 3, 2009 meeting, the Bank of Canada cut its key overnight lending rate (the rate at which it lends funds to chartered banks) another half-percent to 0.5%, continuing the trend of historic low rates in an effort to stimulate theContinue reading “Bank Of Canada Cuts Interest Rate to 0.5% At March 2009 Meeting”
The Crisis Of Credit Visualized
Below is an excellent video (RSS and e-mail Readers may need to click through to view it) outlining how the global economic downturn got started with the credit crisis in the U.S. If you’ve heard the term sub-prime and aren’t exactly sure what that’s all about, this video does a great job explaining it. BearContinue reading “The Crisis Of Credit Visualized”
Bank of Canada Cuts Interest Rate To Lowest Rate In History At January Meeting
Hello Google Searchers! A post about the March 3, 2009 announcement can be found here! This morning, the Bank of Canada lowered its key overnight lending rate (the rate at which it lends funds to Canada’s commercial banks) to 1%, slashing it a further 0.5% and taking to 3.5% the total amount shaved off theContinue reading “Bank of Canada Cuts Interest Rate To Lowest Rate In History At January Meeting”
BC and Vancouver Island Recessions, Potholes, Flooding, Gas Prices, And Other Things Amiss
What the hell? I leave the Island for 10 days and it falls apart on me? I got back on late Sunday night from a week in Mexico to attend my cousin’s wedding and generally unplug from the world for awhile. On that note, an all-inclusive resort with 40 friends and family and really expensiveContinue reading “BC and Vancouver Island Recessions, Potholes, Flooding, Gas Prices, And Other Things Amiss”
Bank of Canada Slashes Interest Rates In December 2008 Meeting
UPDATE JAN 20, 2009: Click Here In an effort to provide economic stimulus, the Bank of Canada has lowered its key overnight interest rate by 3/4 of a percent to 1.5% in its meeting today. Since the Canadian economy has been effectively hung out to dry by the political three-ring circus in Ottawa, I’m notContinue reading “Bank of Canada Slashes Interest Rates In December 2008 Meeting”
B.C. Housing Market Spring Forecast
Expect sales volume to ease, prices to increase more slowly The British Columbia Real Estate Association (BCREA) has released its semi-yearly housing market forecast for the province. Despite economic troubles elsewhere in the country, B.C.’s economy is expected to remain strong and to outpace many other areas in Canada in terms of growth through 2009.Continue reading “B.C. Housing Market Spring Forecast”
Bank Of Canada Expected To Cut Interest Rates
UPDATE: APR 22, 2008 RATE ANNOUNCEMENT Don’t forget, the Bankof Canada meets tomorrow, April 22nd, 2008. The Bank is expected to cut interest rates by another 50 basis points (0.5%) to generate some stimulus in the weakening economy. This is of course great news for anyone on floating rate mortgages and buyers of real estate.Continue reading “Bank Of Canada Expected To Cut Interest Rates”