Wednesday, April 29. The Bank of Canada holds its overnight rate at 2.25%.This means that the mortgage prime rate is holding at 4.45% for most banks. No surprise. If you were expecting a cut, you haven't been following the news closely enough. Let me explain what is actually going on. Bank of Canada is holding rate stuck between Inflation risk and slow Canadian economy The Squeeze in Both Directions The Bank is caught between two forces pulling in opposite directions, and the Iran conflict...

Dear reader, This morning, March 18, 2026, the Bank of Canada announced its decision to maintain the overnight rate at 2.25%, leaving the mortgage prime rate unchanged at 4.45%. No surprise. The Bank had every reason to stay put — and the data we received just days before this decision made it even clearer. Bank of Canada hold rates but the War in Iran is making it more difficult to keep the right balance The Economy: Not Great, Not Dead Let's look at the actual numbers, because they paint a...

The Bank of Canada kicked off 2026 by doing exactly what most forecasters expected: it kept the target for the overnight rate steady at 2.25 %, leaving the prime rates used to price variable‑rate mortgages unchanged at 4.45 %. Markets had assigned roughly an 89 % probability to a hold, and Governor Tiff Macklem had already signalled that policy is “about the right level”. For borrowers, this means your variable or adjustable‑rate mortgage payments stay the same in the short term. Fixed‑rate...