Interest Rates
Bank of Canada Announcements
In November 2000, the Bank of Canada introduced a system of eight "fixed" dates each year on which it announces whether or not it will change the key policy rate (by either raising or lowering the target overnight rate).
The next interest rate announcement is scheduled for October 18, followed by a Monetary Report on October 20. It is generally anticipated that the Canadian Fed will raise the overnight rate again by a quarter percentage point, bringing it up to 3.0. Even with the rates seemingly on the rise, we are experiencing some of the lowest rates in recent history... now's the time to capitalize on the low rates and realize the potential of Vancouver Real Estate.
December 6 will be the final interest rate announcement in 2005.