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March 2020 Bank of Canada Interest Rate Decrease

March 4, 2020 • Financial Industry, Real Estate Industry

The Bank of Canada interest rate has decreased to 1.25% as of March 4, 2020.

The interest rate was previously 1.75% and had remained there since October of 2018.

The March 4 rate cut was widely predicted by economists following the U.S. Federal Reserve decrease on March 3. However, many predicted that the Canadian interest rate would lower to 1.5%.

Instead, the BOC decreased the interest rate even further — by 50 basis points to 1.25%.

On the Purview blog, we are examining the reasons for the Bank of Canada’s decision and what could be in the forecast ahead:

On the GeoWarehouse blog, we take a look at what the interest rate decrease, paired with recent mortgage stress test changes, could mean for the spring real estate market:

What do you think about the Bank of Canada interest rate decrease? Share with us on social media.



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