On March 10, the Bank of Canada (BoC) announced that it will hold its current level of policy rate until inflation objective is sustainably achieved. The overnight rate remains the same at the effective lower bound of 0.25%. The Bank Rate stays at 0.5% and the deposit rate at 0.25%. (more…)
Business owners have had to weather a series of challenges since early 2020. They’ve had to contend with restrictions and lockdowns, supply chain disruptions, changes in consumer spending habits and more. Many businesses have had to close permanently because it has been financially impossible for them to remain open.