This latest raise brings the central bank’s rate to 4.75 per cent, up from 0.25 per cent in March last year.
Canada’s commercial banks were quick to follow suit, hiking their prime rates to 6.95 per cent.
It has been the most rapid and aggressive interest rate hiking cycle in recent memory, and it may not be done yet.
So what does this mean to Canadians with mortgages?
Monday, Leah Zlatkin, mortgage broker and lowest rates expertwill answer your questions on video about what the Bank of Canada’s latest move means for variable and fixed-rate mortgages.
To ask a question, just post it in the comment section below before 11 am ET, Monday, June 12 and then check back for your answer around 3 pm