The Bank of Canada has officially hit the pause button again, maintaining its policy rate at 2.25% for the sixth consecutive announcement. With this decision, the central bank signals a continued ‘wait-and-see’ approach as economic uncertainty—driven by global geopolitical tensions and lingering US tariff impacts—overshadows recent inflationary pressures. Despite May’s inflation rate ticking up to 3.2%, the consensus among industry experts was clear: 91% of mortgage professionals surveyed correctly predicted this steady hold. For GTA homeowners and prospective buyers, this means variable-rate mortgages and HELOCs will remain unchanged for now. As we look toward the September 2nd announcement, all eyes remain on Governor Tiff Macklem for any shift in the bank’s long-term outlook. To understand how this stability impacts your specific financial position, read the full report at MPA Mag.
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