What is the forecast for upcoming Bank of Canada announcements? Read monthly interest rate insights from Perch's expert mortgage broker team.
The Bank of Canada announced its 7th straight rate hike on Wednesday, December 7th, pushing the key interest rate up half a percentage point from 3.75% to 4.25%. This is the highest the interest rate has been since 2008. Economists are predicting this will be the last interest rate hike for the Bank of Canada in the near term.