Derek Malcolm, Home Financing Advisor

As expected, no change to interest rates yesterday from the Bank of Canada. With the economy still remaining fairly resilient many are beginning to wonder if cuts won't start until later this year, and if there could be fewer cuts in 2024 than most hoped a few months ago.

Bank of Canada holds key interest rate at 5% again, saying it's still too soon for rate cuts www.cbc.ca

Merry Christmas and Happy New Year to all! Enjoy time with family and friends this holidays!

Potential good news that BoC Governor Tiff Macklem may feel rates are high enough to tame inflation

Bank of Canada governor defends interest rate: 'It is working. Inflation is coming down' www.cbc.ca

Yesterday the Bank of Canada held prime rate where it was again, which is good news for rates moving forward. Decembers meeting will be a key indicator of whether we're done with rate hikes or whether there may still be more to come. Look for rates to begin dropping sometime in 2024 likely.

Bank of Canada governor won't say when interest rates will drop, but insists it won't take a recession www.cbc.ca