Posted On Oct 26, 2023

BANK OF CANADA ANNOUNCEMENT:

To the relief of millions of Canadians, the Bank of Canada announced yesterday they're keeping the overnight rate status quo.

After 10 increases since March 2022, the overnight rate stays at 5.00% for now.

The Bank said it sees "clearer signs that monetary pricing is moderating spending and relieving price pressures."

The Bank also said it remains concerned by the slow progress towards price stability and notes inflationary risks have increased, repeating they are "prepared to raise the policy rate further if needed."

The next rate announcement is December 6.


Danny Bell, AMP
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