The Mortgage Management Team

The central bank kept Canada’s policy rate near 2% for a seventh straight meeting, after its last move, a 25-basis-point cut, in Late-Q4 2025.
Inflation remained the main concern: headline inflation held near ~3%, above the ~2% target, while core measures stayed near target and energy spillover seemed limited.
Canada’s economy showed resilience, with Q2 GDP ↑~3% annualized and Q1 revised slightly positive, but new US tariffs still raised uncertainty around recovery.
An analysis expected growth to slow significantly in Q3, while announced tariffs and counter-tariffs were seen as manageable overall but tougher on some sectors.
For the rest of 2026, the central bank is expected to stay on hold as higher longer-term bond yields have tightened financial conditions.

Bank of Canada Stays on Hold

Across Canada, personal loans ranged from $500 to $200K, with some lenders offering same-day funding and options spanning secured, unsecured, short-term, and longer-term borrowing.
Credit access varied widely: some lenders accepted no credit history or scores as low as 450, while others targeted borrowers with good or excellent credit.
Repayment flexibility differed too, from 3 mo emergency loans to terms as long as 25 yr, and several options waived prepayment penalties.
Rates depended on credit score, income, debt-to-income ratio, and lender terms, while some borrowers could improve approval odds by adding a co-signer.
Getting a personal loan in Canada usually meant assessing finances, comparing lenders, applying, waiting for approval, signing the agreement, and then receiving funds.