BoC September Rate Pause

The Bank of Canada has decided not to raise rates in September. Prime is holding at 7.2% for now, but there was heavy insinuation that future hikes are in the cards.

This will offer some relief to stressed-out borrowers in Mississauga. We’re still feeling the effects of inflation in our daily lives, whether at the pump or in the grocery store.

The BoC is still not pleased with employment numbers and inflationary data, so I wouldn’t expect rates to go down any time soon.