The Bank of Canada today held its target for the overnight rate at 2.25%

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Impact on Home buyers: Monthly payments for variable-rate mortgages stay unchanged. Stress test requirements remain the same First-time buyers get more predictability, helping them plan and qualify. If inflation continues to cool, buyers may anticipate future cuts later in the year. Overall: Stability now, potential affordability improvements later. Canada’s economy grew by a surprisingly strong 2.6% in the third quarter, even as final domestic demand was flat. The increase in GDP largely reflected volatility in trade. Canada’s labour market is showing some signs of improvement. Employment has shown solid gains in the past three months and the unemployment rate declined to 6.5% in November. CPI inflation slowed to 2.2% in October, as gasoline prices fell and food prices rose more slowly. CPI inflation has been close to the 2% target for more than a year, while measures of core inflation remain in the range of 2½% to 3%. The next scheduled date for announcing the overnight rate target is January 28, 2026. The Bank’s next MPR will be released at the same time. Contact: Your Result-Driven Trusted Pal Paresh Bhavsar, Realtor Homelife Miracle Realty Ltd. Brokerage* 647-899-9649 [email protected] www.TrustedRealtorParesh.com