April Bank of Canada Rate Announcement


Bank of Canada Rate Update April 10, 2024

The Bank of Canada has made their key rate decision for April 2024. As widely expected, they announced this morning that they are maintaing their key interest rate at 5%. This makes it seven consecutive decisions to hold their key rate after increasing the rate on ten occassions between early 2022 and July 2023. 

Much like their March decision, the Bank of Canada continues that iterate that while rate increases are now done, they do not feel it is time to begin lowering rates just yet. The decreases are expected in Q3 and Q4 of 2024 should the key indicators contiue to trend in the right direction. 

In their prepared statement, Governor of the Bank of Canada Tiff Macklem said this. "We have three main messages this morning. First, monetary policy is working. Total consumer price index (CPI) and core inflation have eased further in recent months, and we expect inflation to continue to move closer to the 2% target this year. Second, growth in the economy looks to be picking up. We expect GDP growth to be solid this year and to strengthen further in 2025. Third, as we consider how much longer to hold the policy rate at the current level, we’re looking for evidence that the recent further easing in underlying inflation will be sustained." (Bank of Canada, 2024)

He also discussed Canadian's eagerness for easing of rates, "We don’t want to leave monetary policy this restrictive longer than we need to. But if we lower our policy interest rate too early or cut too fast, we could jeopardize the progress we’ve made bringing inflation down." (Bank of Canada, 2024)

As we move further into the spring season and into summer buyers looking for houses for sale in the Windsor real estate market can continue to purchase with confidence.

When is the next Bank of Canada Announcement

The Bank of Canada's next rate announcement is schedueld for June 5, 2024. 

Graph Courtesy: Bank of Canada; https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/

Quotes Courtesy: Bank of Canada; https://www.bankofcanada.ca/2024/04/opening-statement-2024-04-10/

Here at Jump Realty our agents will give you honest advice on what course of action is best for you in their professional opinion and will always put taking care of your best interests first! With offices in Windsor, Tecumseh, Kingsville, LaSalle, Harrow, Chatham, and Leamington, no matter where you are, a Jump agent is ready to help. Please contact us for any housing needs and let us give you a better real estate experience!




Windsor listings

MLS# 24029302: 1828 OLIVE Road, Windsor, Canada
1828 Olive Road
Windsor, Ontario.
3 Beds | 3 Baths
$499,900
View This View Listing Listing
MLS# 24029245: 1021 CAMPBELL, Windsor, Canada
1021 Campbell
Windsor, Ontario.
5 Beds | 2 Baths
$379,900
View This View Listing Listing
MLS# 24029290: 3060 CHURCH, Windsor, Canada
3060 Church
Windsor, Ontario.
4 Beds | 1 Baths
$399,900
View This View Listing Listing
MLS# 24029279: 5080 MALDEN Road, Windsor, Canada
5080 Malden Road
Windsor, Ontario.
2 Beds | 2 Baths
$725,000
View This View Listing Listing
MLS# 24029266: 2329 PARENT Avenue, Windsor, Canada
2329 Parent Avenue
Windsor, Ontario.
4 Beds | 2 Baths
$399,999
View This View Listing Listing
MLS# 24029267: 4245 WYANDOTTE, Windsor, Canada
4245 Wyandotte
Windsor, Ontario.
4 Beds | 2 Baths
$399,900
View This View Listing Listing
MLS# 24029264: 1793 WESTMINSTER, Windsor, Canada
1793 Westminster
Windsor, Ontario.
3 Beds | 2 Baths
$539,900
View This View Listing Listing
MLS# 24029258: 2384 TRAPPERS Avenue, Windsor, Canada
2384 Trappers Avenue
Windsor, Ontario.
4 Beds | 2 Baths
$599,900
View This View Listing Listing
MLS# 24029256: 3730 WILDWOOD, Windsor, Canada
3730 Wildwood
Windsor, Ontario.
3 Beds | 2 Baths
$509,000
View This View Listing Listing

Loading...