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...

The Bank of Canada held its overnight rate at 2.25 percent today, which means the mortgage prime rate stays at 4.45 percent. This was widely expected, but it still matters. The Bank is dealing with mixed signals in the data and wants more clarity before making its next move. Next meeting will be on January 28 2026 Here is what really stands out this week. Bank of Canada Hold rate over a sputtering economy Jobs: Strong headline, softer reality November showed 54,000 new jobs and the...