Bank of Canada leaves rates unchanged

Bank of Canada Leaves Rates Unchanged


Just letting my fellow Canadians know that the Bank of Canada will not be raising interest rates at the moment. Analysts expected a 25% chance rates would rise but at this morning's meeting, it didn't happen. Looking forward, a lift off is expected in March, in line with expected rate hikes from the Federal Reserve in the USA.

As a result, the Loonie has dropped about 8 cents against the US dollar. Now we have to wait and see what happens today at the FED. They too are holding their FOMC meeting today. We should know what happens when they hold their press conference after 2 pm.

The FED will likely follow the Bank of Canada's lead and hold off on raising rates until March. I'll provide an update to this article later in the day as to what's transpired.

US Debt Clock

(Screenshot - US Debt Clock)

It'll be interesting to see how things play out if and when interest rates go up. With the US debt approaching $30 Trillion, just a one point interest rate increase will likely send the US into recession, if it isn't already!

For now, the Bank of Canada's rate remains unchanged at the historically low 0.25%!

Thanks for stopping by. Please 'like' and subscribe. Tips are greatly appreciated. It never costs you anything. That's what makes PublishOx so great.

Update 3pm: Fed leaves rates untouched, announced QT in March.

Check out some of my other posts...

A brief history of the incredible, dependable zipper!

CryptoTab browser mines Bitcoin for you.

Are we facing scarcity and higher prices in Canada?

Monetizing your articles to generate income.

Tip Yourself. You deserve it!

Bitcoin mining uses too much electricity???

Will 2022 be the year silver breaks out?

The links below also help support my blog. Thank you in advance!

Start mining Bitcoin now with your old computer! I just did!

Join PublishOx and earn crypto for reading and writing articles. Tipping is always free!

Buy one ounce pure SILVER bar - pay as little as $3 S&H - 'Buy It Now' on EBay Stagecoach Silver One Ounce bar

Earn TFuel at Theta.tv just for watching TV and livestreams.

Join OwnX today to start accumulating precious metals: ad5df3ab0ef7e0ad748256ac14117b39c09bf32c3fdf29a991c6fa353516f205.jpg

Need Stunning High Def 4K Videos for your video productions? Try Videvo with this link and get 20% off!

Earn bonus 300 SwagBucks when you earn 300 SwagBucks in the first 30 days. 

How do you rate this article?


1

0

SweptOverNiagara
SweptOverNiagara

Name's Joe and I live in Ontario, Canada. I enjoy keeping track of markets, investing and commodities, primarily gold and silver. Also have interests in the crypto sector. I Support BAT's Brave browser on my phone and earn free BAT tokens.


The Brave New World
The Brave New World

This blog is dedicated to healthy discussions on a wide range of topics. Please subscribe to receive notices when new articles are published. Thanks so much for your support.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.