{"id":11391,"date":"2019-01-14T11:11:52","date_gmt":"2019-01-14T19:11:52","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=11391"},"modified":"2019-01-08T13:11:39","modified_gmt":"2019-01-08T21:11:39","slug":"what-would-it-take-for-canadian-interest-rates-to-drop-in-2019","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2019\/01\/what-would-it-take-for-canadian-interest-rates-to-drop-in-2019\/","title":{"rendered":"What Would It Take for Canadian Interest Rates to Drop in 2019?"},"content":{"rendered":"<p style=\"text-align: justify;\">Like many other market observers, Central 1 expects the Bank of Canada will hike its influential key interest rate this year \u2014 but the credit union also presents a possible scenario that could see rates sink lower.<\/p>\n<p style=\"text-align: justify;\">\u201cThe next Bank rate move is expected to be a quarter-point increase in late October 2019 on the expectation that oil prices have stabilized at a higher level, US\u2013China trade tensions have eased and global growth has stabilized,\u201d reads the latest Central 1 Interest Rate Forecast.<\/p>\n<p style=\"text-align: justify;\">However, Central 1 notes that there are downside risks. \u201cA worse-case scenario \u2014 where US\u2013China tensions escalate or US policies cause more disruptions and its political situation worsens \u2014 would bring a rate cut scenario into play,\u201d the report continues.<\/p>\n<p style=\"text-align: justify;\">Since July 2017, Canada\u2019s central bank has increased its mortgage-market influencing key rate, also known as the overnight rate,, five times. The most recent hike was October, when a 25-basis-point increase brought the overnight rate to 1.75 percent.<\/p>\n<p style=\"text-align: justify;\">The Bank of Canada\u2019s next policy announcement is scheduled for Wednesday, but no movement is expected on the rate front right now.<\/p>\n<p style=\"text-align: justify;\">Central 1\u2019s commentary, published late last week, followed the release of a separate report in which Capital Economics predicted a rate cut was in the cards this year.<\/p>\n<p style=\"text-align: justify;\">Like Central 1, Capital Economics is in part basing its call on oil prices. But where Central 1 suggests recovery is most likely, Capital Economics says policymakers are underestimating the extent to which the economy is being negatively impacted.<\/p>\n<p style=\"text-align: justify;\">That said, Central 1 says softening mortgage demand and slowing home sales may encourage some lenders to incent consumers with lower mortgage rates or other conditions. \u201cConditions for a mortgage rate cut are forming,\u201d Central 1 says.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.livabl.com\/2019\/01\/canadian-interest-rates-drop-2019.html\">What Would It Take for Canadian Interest Rates to Drop in 2019?<\/a> by Josh Sherman | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Like many other market observers, Central 1 expects the Bank of Canada will hike its influential key interest rate this year \u2014 but the credit union also presents a possible &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2019\/01\/what-would-it-take-for-canadian-interest-rates-to-drop-in-2019\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-11391","post","type-post","status-publish","format-standard","hentry","category-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What Would It Take for Canadian Interest Rates to Drop in 2019? 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