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Email this7:04 am
February 7, 2019
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| CGO |
7:21 am
August 19, 2022
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The Bank of Canada today increased its target for the overnight rate to 3¼%, with the Bank Rate at 3½% and the deposit rate at 3¼%.
7:25 am
September 4, 2022
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"Given the outlook for inflation, the Governing Council still judges that the policy interest rate will need to rise further. Quantitative tightening is complementing increases in the policy rate." Bank of Canada
https://www.bankofcanada.ca/2022/09/fad-press-release-2022-09-07/
Are you ready for 5% plus term deposits
7:27 am
December 12, 2021
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BoC Press Releases
The Bank’s core measures of inflation continued to move up
the Governing Council still judges that the policy interest rate will need to rise further.
..........
IMO the rate will be at 4% or a bit higher by the year end.
7:37 am
September 11, 2013
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If market for mortgage money decreases doesn't that mean FI need for term deposits does too? So maybe lower GIC rates?
7:46 am
December 7, 2011
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agit said
IMO the rate will be at 4% or a bit higher by the year end.
I disagree.
I think, that by the end of 2022 BOC rate will be 3.50% max, no more, as I predicted on July 19, 2022.
https://www.highinterestsavings.ca/forum/gic/great-read-in-the-fp-when-will-rates-peak/#p75607
7:59 am
January 13, 2022
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Winnie said
I disagree.
I think, that by the end of 2022 BOC rate will be 3.50% max, no more, as I predicted on July 19, 2022.https://www.highinterestsavings.ca/forum/gic/great-read-in-the-fp-when-will-rates-peak/#p75607
I've been thinking this as well, Winnie. But now I'm not so sure. I'm beginning to think inflation is going to be very sticky. We're only now beginning to see the price of stuff that actually reflects high farming fuel costs, high shipping costs, wage hikes through job action, etc. Didn't I read that lower gas prices caused a blip last month, and that core CPI was higher or at least unchanged? I'm seeing 4 percent by end of year...another .5 followed by a .25. And that's exactly what Macklem seemed to imply was going to happen. As always, only time will reveal all.
8:23 am
December 12, 2021
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lifeonanisland said
Didn't I read that lower gas prices caused a blip last month, and that core CPI was higher or at least unchanged?
I'm seeing 4 percent by end of year...another .5 followed by a .25. And that's exactly what Macklem seemed to imply was going to happen.
yes correct from boc "The Bank’s core measures of inflation continued to move up, ranging from 5% to 5.5% in July. Surveys suggest that short-term inflation expectations remain high"
Not only Macklem also the fed "cnbc" seeing rate above 4% and then rate will remain there until 2024 not anticipate the Fed cutting the fed funds rate target next year.”
8:34 am
January 28, 2015
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I personally think the rate will top out 4.5 % next year and we will start to see a reverse
8:45 am
February 7, 2019
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The BoC has two more scheduled Policy Rate Updates in 2022 ... Oct 26 and Dec 7. It'll be interesting what they bring ...
| CGO |
8:47 am
February 15, 2018
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How quickly do we think FIs will respond to rate hike. Currently have most of my funds at Hubert 1 yr quarterly term at 4.25% average. Hoping to see that go to 5%?
9:27 am
February 7, 2019
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Sky said
How quickly do we think FIs will respond to rate hike. Currently have most of my funds at Hubert 1 yr quarterly term at 4.25% average. Hoping to see that go to 5%?
I suspect lending rates are already on the move but I don't think anything is going to happen to deposit rates until one or two or three FI's feel they need to move up to get their deposits up at to a higher level. Then others may move up to prevent deposit bleed.
These higher lending rates will very very likely reduce demand for loans and mortgages. So, FI's may not need to do much on the deposit side ...
I have no idea what Hubert will do now but recent history is ...
Jul 6: Hubert's 1Yr GIC went 3.25% -> 3.75%. Anticipation?
Jul 13: BoC Rate went 1.5% -> 2.5%.
Jul 15: Hubert's 1Yr GIC went 3.75% -> 4.1%.
Jul 27: Hubert's 1Yr GIC went 4.1% -> 4.25%.
| CGO |
10:21 am
October 11, 2015
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So now that the BOC has increased the rate, have any banks increased their HISA or GICs?
10:28 am
November 18, 2017
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HelloHello:
Are you ready for 5% plus term deposits
Great prediction, given that we've been seeing them for over a month now... 🙂
RetirEd
RetirEd
11:18 am
October 27, 2013
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dentgal said
So now that the BOC has increased the rate, have any banks increased their HISA or GICs?
That would be too quick of a response. Prime lending rate will move to 5.45% https://wowa.ca/banks/prime-rates-canada as early as today.
Earliest I think would be tomorrow or Friday from some institutions, and maybe only HISA rates at first.
1:41 pm
March 30, 2017
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mechone said
I personally think the rate will top out 4.5 % next year and we will start to see a reverse
Once O/N reaches 4-4.5%, it will be sticky for a while, neither up or down.
A 5% 1y rate in the next 3 months remains an illusion, it’s a wish, a dream, not a realistic expectation.
3:07 pm
May 26, 2022
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Sky said
How quickly do we think FIs will respond to rate hike. Currently have most of my funds at Hubert 1 yr quarterly term at 4.25% average. Hoping to see that go to 5%?
Don't hold your breath for the big banks. Example:
https://www.scotiabank.com/corporate/en/home/media-centre/media-centre/news-release.html?id=3902&language=en
"loan growth and net interest margin expansion" is key to earnings. Net interest margin expansion is a result of maintaining low interest rates for savings accounts and GICs in a rising rates environment.
PS: Tangerine is part of Bank of Nova Scotia
7:11 am
September 30, 2017
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BoC @ 3.25% no more ... as of today, it is 3.75% ... leaving room for last review in 2022
7:26 am
January 9, 2011
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hwyc said
BoC @ 3.25% no more ... as of today, it is 3.75% ... leaving room for last review in 2022
And the stock market goes wild - BofC rate ONLY up 1/2 of 1% ! Will reality set in tomorrow.... 
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