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Posted by on Dec 11, 2018 in Industry Info/News | 0 comments

July 14, 2021

In an announcement this morning the Bank of Canada maintained its overnight rate at 0.25%. Relying on what it calls “extraordinary forward guidance” the Bank is committing to leaving the overnight rate at 0.25% until slack in the economy is absorbed and inflation sustainably returns to its 2.0% target. This, the Bank continues to project will not occur until the second half of 2022. 

June 9, 2021

The Bank of Canada maintained its overnight rate at 0.25% this morning, a level it considers its effective lower bound. The Bank reiterated what it calls “extraordinary forward guidance” in committing to leaving the overnight rate at 0.25% until slack in the economy is absorbed and inflation sustainably returns to its 2% target. The  Bank projects that will not occur until the second half of 2022.

April 22, 2021

In an announcement Wednesday, the Bank of Canada maintained its benchmark interest rate unchanged at a record-low 0.25% until slack in the economy is absorbed and inflation sustainably returns to its 2 per cent target. The Bank is now projecting that will occur in the second half of 2022 rather than in 2023.

March 10, 2021

The Bank of Canada announced this morning it is keeping its key interest rate target on hold at 0.25%, saying economic conditions still require it even if things are going better than anticipated.

The bank says its key policy rate will stay at 0.25% until the economy recovers and inflation is back at its 2.0% comfort zone, which it doesn’t see happening until 2023.

The key policy rate has been at 0.25% for almost exactly one year after the central bank cut rates three times last March at the onset of the COVID-19 pandemic.

March 1, 2021

In a news release today the BC government says it will introduce legislative changes to extend the current rent freeze through to the end of this year. Tenants can disregard any notice of a rent increase that would have taken effect before Jan. 1, 2022. Starting next year rent hikes will be capped at the rate of inflation.

The bill also clarifies language in the Manufactured Home Park Tenancy Act to address conflicts between park rules and tenancy agreements.

January 20, 2021

The Bank of Canada announced today it is maintaining its key interest rate at 0.25%. The Bank committed to leaving the overnight rate at 0.25% until slack in the economy is absorbed and inflation sustainably returns to its 2% target. This is projected not to occur until 2023. The next scheduled date for announcing the overnight rate target is March 10, 2021. 

December 9, 2020

The Bank of Canada today announced it is keeping its key interest rate target on hold at 0.25%.

The announcement marks the last interest rate decision the central bank will make this year, after an extraordinary 2020 that saw it slash rates in response to the economic crisis caused by COVID-19.

November 9, 2020

The BC government announced today it has extended a freeze on rent increases through to the summer. Originally, the rent freeze was set to expire on Dec. 1, 2020 but now, has been extended until July 10, 2021. Any rent increases set to happen on Dec. 1 have been cancelled and tenants can continue to pay their current rent amount until July, 2021.

Landlords cannot combine 2020 rent increase and 2021 rent increases. The maximum rent increase amount in 2021 cannot exceed 1.4%. The earliest a landlord can issue a new notice of rent increase is April 11, 2021.

October 28, 2020

The Bank of Canada today announced it is leaving its key rate unchanged at 0.25%.

The bank has kept its rate at 0.25 per cent since March 27, 2020 in response to the coronavirus pandemic and hinted this rate may remain unchanged into 2023.

September 9, 2020

The Bank of Canada announced it is holding the key overnight rate at 0.25 percent.

Next rate announcement is on October 28, 2020.

July 15, 2020

As expected, the Bank of Canada is keeping its benchmark interest rate at 0.25 per cent. The bank’s rate decision suggests there are no plans to deviate from that strategy until the national economic picture improves. The key interest rate has been at 0.25 per cent since March, when the central bank cut it sharply in response to the economic harm from COVID-19.

The next interest rate announcement is scheduled on September 9, 2020.

June 3, 2020

The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent. The Bank noted that incoming data seems to signal the impact of COVID-19 on the economy has peaked and the Canadian economy appears to have avoided the most severe scenario the Bank had previously presented as a possible outcome of COVID-19, though it does expect a significant decline in the level of GDP in the second quarter. However, the Bank goes on to say positive growth is expected to resume in the third quarter.

April 15, 2020

The Bank of Canada announced today it is holding its benchmark interest rate at 0.25%. The central bank says the current rate is as low as it can go to combat the Covid-19 pandemic. The next scheduled interest rate announcement is on June 3, 2020.

March 27, 2020

For the second time this month, the Bank of Canada cut its key interest rate by half a percentage point to 0.25% in an unscheduled rate announcement today.

The central bank said its decision to lower rates is aimed at cushioning the economic shocks from COVID-19 crisis and a sharp drop in oil prices by easing the cost of borrowing.

The Bank of Canada last cut rates to these levels in 2009, during the global financial crisis.

March 25, 2020

The Government of B.C. announces amendments to the Residential Tenancy Act which will be in effect for the duration of the provincial state of emergency. See News, 2020 Allowable Rent Increase section.

Further information is also available at: https://www2.gov.bc.ca/gov/content/housing-tenancy/residential-tenancies/covid-19

March 13, 2020

The Bank of Canada today, in an emergency policy action, again lowered its key interest rate by half a percentage point to 0.75 per cent. This follows the previous cut of half a percentage point to 1.25 per cent on March 4, 2020. Today’s move is in response to the spread of COVID-19, which according to the Bank is having serious consequences on Canada’s economy.

March 4, 2020

The Bank of Canada followed the U.S. Federal Reserve’s lead and, today, cut its benchmark interest rate by half a percentage point to 1.25 per cent down from 1.75 per cent in an effort to soften the economic impact of the corona virus outbreak.

The cut in the bank’s key rate is the first since the summer of 2015 and brings the rate to a level it hasn’t been at since early 2018.

January 22, 2020

The Bank of Canada is keeping its key interest rate on hold at 1.75%.

In determining the future path for the Bank’s interest rate policy, Governor Stephen Poloz said the Bank will be paying particular attention to developments in consumer spending, the housing market, and business investment.

The next scheduled rate announcement date is March 4, 2020.

December 4, 2019

The Bank of Canada kept its key interest rate unchanged in its final rate decision of 2019. The central bank announced that it maintained the target for the overnight rate at 1.75%, where it has stood since October, 2018.

October 30, 2019

The Bank of Canada kept its key interest rate on hold Wednesday positioning the country as an exception among advanced economies that have already started responding to the weakening world economy by easing monetary policy. The next scheduled rate announcement date is December 4, 2019.

September 4, 2019

The Bank of Canada, as widely expected, has kept its benchmark interest rate at 1.75%. BoC appeared to be in no rush to change the rate, even as central banks in the U.S. and Europe have signalled they may introduce cuts to respond to weakened global economic activity. The next scheduled date for announcing the central bank rate is October 30, 2019.

July 10, 2019

The Bank of Canada is leaving its key interest rate unchanged. The decision kept the interest rate at 1.75% for a sixth-straight meeting.

May 29, 2019

The Bank of Canada has decided to maintain its benchmark interest rate at 1.75% at its May 29 meeting. The central bank also appeared to be in no hurry to move the interest rate any time soon making no mention of a need for future increases.

April 24, 2019

The Bank of Canada is keeping its benchmark interest rate at 1.75% and appears to be in no hurry to move the interest rate any time soon. The decision leaves the trend-setting rate unchanged for a fourth-straight announcement following a series of five hikes between mid-2017 and last fall.

March 2019 Western Investor

Mobile Home Parks remain the most affordable residential investment in British Columbia.

Link to full article: https://bit.ly/2ub9w91

March 6, 2019

The Bank of Canada decided to hold its benchmark interest rate unchanged and said the timing of possible future hikes has become increasingly uncertain. The Bank meets eight times a year to set its interest rate with the next meeting scheduled for April 24.

January 9, 2019

The Bank of Canada is keeping its benchmark interest rate unchanged in its first policy decision of 2019. The bank last raised its rate in October 2018, the fifth time since the summer of 2017. Economists and other financial industry experts expect the Bank of Canada will raise rates again this year to achieve its inflation targets. The next scheduled rate announcement date is March 6, 2019.

December 12, 2018

In April 2018, BC Premier John Horgan appointed a Rental Housing Task Force to advise on how to improve security and fairness for renters and rental housing providers throughout the province.

The rental task force has filed its final report with 23 recommendations for the BC government to consider aimed at making the rental process fairer for tenants and landlords.

A couple of recommendations in the report may have an effect on mobile home parks. Following is a link to the full report: https://bit.ly/2TEDmSq

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