Team Fazi Real Estate

Because you count as 1

Tel: (778) 899-8829 |

Bank of Canada Interest Rate Announcement - January 20, 2021

On January 20, the Bank of Canada maintained its overnight rate at 0.25 percent. The Bank projects that it should keep this low rate until slack in the economy is absorbed, which will not probably occur until 2023.



The Bank is also continuing its quantitative easing (QE) program, purchasing at least $4 billion of Government of Canada bonds per week. As a result, the Bank expects the Canadian economy will grow 4 percent in 2021 and 5 percent in 2022.



It is generally believed that as vaccinations accelerate in the coming months, the Canadian economic recovery will gain steam in the second half of 2021. Depending on the strength of the recovery, we may see the Bank taper its purchases of government bonds in 2022, which could put moderate upward pressure on 5-year fixed mortgage rates. However, that still means the current extremely low interest rate environment will be around for quite some

Comments:
No comments

Post Your Comment:

CBC | Business News

04/56/2021
Pandemic job losses threaten to leave women behind permanently, RBC warns
covid london restaurant bar

The pandemic's job losses have hit women particularly hard, and a new report from RBC says the effects could be potentially long-lasting.

More...
Canadian banks, insurance firms owe $1.2B in employee vacation pay, class actions allege
Leigh Cunningham

Five proposed class-action lawsuits have been launched against banks and insurance companies since early 2019 seeking a total of $1.2 billion for vacation pay that's allegedly owed current and former employees.

More...
Air Canada to offer refunds to passengers as part of potential bailout package
COVID Air Canada Layoffs 20200320

Air Canada has agreed to offer refunds to passengers who had their travel plans cancelled because of the pandemic as part of a potential bailout package from the federal government.

More...
The oil industry's challenge for 2021: boost output, cut emissions — and make money, too
pumpjack, Alberta

Industry leaders discuss the juggling act of appeasing investors, environmentalists, and customers, while trying to come up with the critical technologies they believe the world will need to have abundant energy without the heavy emissions.

More...
More signals of a Roaring '20s rebound for Canadian economy when pandemic ends
GERMANY/

Despite the biggest economic slump since 1961, there are new signals that the Canadian economy will bounce back due to an "extraordinary" surge in wealth and savings and a rebound in confidence.

More...
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.