What does this mean to you?

✨As we were expecting, the Bank of Canada has held the prime rate at 7.2%. ✨

The Bank of Canada has maintained its policy interest rate since July 2023. We saw slightly stronger than expected economical growth this last quarter. However, with Inflation continuing to mildly move towards the 2% target, many economists are anticipating rate decreases to begin in the latter half of the year.

The next rate announcement is scheduled for April 10th.