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

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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