The Bank of Canada has decided to maintain its overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The bank is adhering to its policy of quantitative tightening.On the
BANK OF CANADA UPDATE - December 6, 2024
Dated: December 7 2023
Views: 116
The Bank of Canada has decided to maintain its overnight rate at 5%, with the Bank Rate at 5¼% and the deposit rate at 5%. The bank is adhering to its policy of quantitative tightening.
On the global front, the pace of economic growth is decelerating, and inflationary pressures have further diminished. In the United States, there has been stronger-than-expected growth, primarily driven by robust consumer spending. However, the outlook suggests a potential weakening in the coming months as the effects of previous policy rate increases permeate through the economy. The euro area has experienced a slowdown in growth, exacerbated by lower energy prices, contributing to reduced inflationary forces. Notably, oil prices are currently $10-per-barrel lower than the assumptions made in the October Monetary Policy Report (MPR). Financial conditions have eased, with long-term interest rates retracting some of the significant increases witnessed earlier in the autumn. Additionally, the US dollar has depreciated against most currencies, including that of Canada.
Sarah Eales
Love being a realtor with over 20 years experience. Born in Vancouver, raised in Maple Ridge / Pitt Meadows area. I have four older brothers who work in the construction industry so I have a wealth ....
Copyright 2026 by Greater Vancouver REALTORS®. All Rights Reserved. NOTE: This representation is based in whole or in part on data generated by the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board
or Greater Vancouver REALTORS® which assumes no responsibility for its accuracy.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
Last Updated: September 20, 2026 11:56 PM UTC
