Bank Of Canada Projects Mid-2022 Interest Rate Increase
The Bank Of Canada has announced that it is maintaining its record-low key interest rate at 0.25%, where it has remained since March of 2020. The global economic recovery continues following the impacts of COVID-19, being led by consumption. However, some regions are starting to see a moderation following a strong Q3. Inflation rates continue to rise in many countries, including Canada, which the Bank attributed to high demand for goods coupled with ongoing supply-chain issues. The Bank said it expects elevated inflation to persist through the first half of 2022, and is anticipated to ease back to two per cent in the latter half of the year. The new Omicron variant has resulted in stricter travel restrictions in many countries, a drop in oil prices, and renewed sentiments of uncertainty. The Bank reiterated its expectation for an interest rate hike in the second or third quarter of 2022. Read the full article by clicking the link: https://blog.remax.ca/bank-of-canada-projects-mid-2022-interest-rate-hike/?fbclid=IwAR3fIV07uCXGJvoJSgGiB1K2sxmw4xKo96qP39JL0FEKEKIFg_y_XtRL1bk |
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