After sitting on the Bank of Canada web site awaiting the word, I finally have the definitive statement from the Central Bank (it’s almost as exciting as watching the NFL draft). The technology did not work as I would have hoped, given it was supposed to give me IMMEDIATE feedback when the announcement came out, however that never happened and it just timed out, which suggests a lot of people were sitting watching this announcement.
So the announcement should be at this link, however, right now all it is is a title that states overnight rates are up to 4.5% (up a quarter point), and that is about it, kind of empty? I love technology.
There you have it all rates will now shuffle to reflect this, and I don’t have a statement yet about whether this is a one time increase or whether we will see more rate hikes coming up? Stay tuned!
