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Bank of Canada Monetary Policy Report

Band of Canada Monetary Policy for April 2024

Monetary policy is working to reduce inflationary pressures and inflation is coming down, although it will take more time to see if this progress proves durable. The Bank projects that inflation will stay around 3% into the second quarter of 2024, ease below 2.5% in the second half of the year and return to target in 2025.

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The Perils of a Pre-Approval

We had a client come through the office with a Chartered Bank “Pre-Approval” giving a rate hold and financial budget limit. To our complete shock when our deal was submitted it was denied. After a longer look at the document it said in fine print “subject to lending criteria”.

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