Holding again, and the market starts to guess
A second consecutive hold. Fixed rates began moving on bond yields rather than the Bank's rate — which is why a fixed quote can change in a week with no announcement at all.
The practical move at a peak is to plan the renewal, not to predict the Bank. If your term ends within a year, it is worth pricing the options early — including whether breaking and re-signing beats riding it out.
What the Bank said
“The Bank of Canada today held its target for the overnight rate at 4.5%, with the Bank Rate at 4.75% and the deposit rate at 4.5%. Inflation in many countries is easing in the face of lower energy prices, normalizing global supply chains, and tighter monetary policy.”
The rate path around this decision
For context, unemployment was running at about 5.1% and inflation at 4.4% around this decision.
Where this leaves you
Rate announcements make headlines; approvals turn on your own numbers. If you're buying, renewing or refinancing in Fort McMurray, the useful next step is finding out what you actually qualify for — see current rates, run the math, or start an application. You can also follow the local market in our Fort McMurray housing market reports.