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Tag: Announcements

  • CES 2026: What to expect from tech’s big January conference

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    The new year is upon us, and that means CES 2026 is imminent. The biggest tech trade show of the calendar comes with a bevy of new and notable announcements that set the tone for trends and expectations for the subsequent 12 months. The CES 2026 show floor is officially open from January 6 through 9, but the fun kicks off with events on Sunday January 4, followed by a host of press conferences on Monday. As always, product demos, announcements and networking will be happening at the Las Vegas Convention Center and other hotels all over the city. As usual, Engadget will be covering the event in-person and remotely, bringing you news and hands-ons straight from the show floor.

    More specific details and pre-announcements are already trickling out as CES approaches, and thanks to the schedule of the Consumer Technology Association (the trade organization that runs the show) we have a full itinerary of press conferences. We’re also using our experience and expertise to predict what tech trends could rear their heads at the show.

    The CES 2026 schedule

    Press conferences and show floor booths are the bread and butter of CES. The CTA has already published a searchable directory of who will have an official presence at the show, along with a schedule of every official panel and presentation. However, the press conference schedule gives us a more digestible rundown of the first 48 hours of big events.

    On Sunday, January 4, Samsung will kick-off CES with “The First Look,” a presentation hosted by TM Roh, the CEO of Samsung’s DX Division, on the company’s “vision for the DX (Device eXperience) Division in 2026, along with new AI-driven customer experiences.” Ahead of that, though, Samsung has already outlined a variety of more specifics (scroll down for details). Concurrent with the Samsung presentation will be the official CES Unveiled mini-show, which is generally comprised of smaller and start-up vendors.

    That’ll be followed by multiple press conferences throughout Monday, January 5. The LG CES 2026 press conference, titled “Innovation in Tune with You,” is ostensibly to share “its vision for elevating daily life through Affectionate Intelligence.” But, like Samsung, this fellow Korean giant has already spent the three weeks leading up to CES pre-announcing many of its new products, so this may be more of a summary than breaking news.

    Following LG, we’ll also see press conferences from Bosch and Hisense, as well as the first-ever CES appearance from Lego. As the Las Vegas afternoon rolls around, we get the first of three chip giants: NVIDIA CEO Jensen Huang takes the stage on January 5 at 1PM PT (4PM ET) and, according to the website, his presentation will last about 90 minutes. Based on the description on the listing, the presentation will “showcase the latest NVIDIA solutions driving innovation and productivity across industries.” NVIDIA’s presser is concurrent with one from Hyundai, where the Korean automotive company will focus on in-cabin car tech and robotics.

    Later in the day, we get to hear from NVIDIA frenemies Intel and AMD. Intel’s 3PM PT (6PM PT) event will ostensibly feature its new Core Ultra Series 3 processors, and AMD CEO Lisa Su will cover AMD’s upcoming chip announcements at a keynote address that closes out the day. But expect both of them to be very heavy on AI applications, of course. Sandwiched in between those chip manufacturers will be Sony Honda Mobility. The joint venture will be offering yet more details on its Afeela EV.

    Finally, on Tuesday, January 6, Lenovo CEO Yuanqing Yang will host Lenovo’s Tech World Conference at the Las Vegas Sphere, using the large and decidedly curved screen to share the company’s “commitment to delivering smarter AI for all by constantly redefining how technology can engage, inspire, and empower.” It’s worth noting that Lenovo is the parent company of Motorola, which still makes phones and foldables that feature AI tools, so it’s possible those devices feature in the presentation as well.

    Samsung and LG vie for pre-show publicity

    As noted above, both Samsung and LG have continued their recent trend of spoiling nearly all of their respective CES announcements in the days and weeks before the show. LG, for example, has said it will debut its first Micro RGB television at CES. While details are scarce, the company’s press release for the LG Micro RGB evo did confirm it has received certifications by Intertek for 100 percent color gamut coverage in DCI-P3 an Adobe RGB, and that it has more than a thousand dimming zones for brightness control.

    Elsewhere in the TV space, LG is throwing its hat into the “art TV” ring that Samsung pioneered with its Frame TVs: The LG Gallery TV will debut in 55- and 65-inch screen sizes, and it will of course show off various artwork when it’s not otherwise in use. And if PC gaming displays are more your speed, LG will have that covered, too, with a new line of 5K-capable gaming monitors on deck with built-in AI upscaling.

    But LG’s not just showing off displays. The Korean multinational will also introduce a Dolby-powered modular home audio system, a new line of its xboom speakers (developed with will.i.am) and the company will flex its automation muscles with a humanoid home automation robot named CLOiD. We’re also looking forward to checking out the company’s new ultralight Aerominum laptops.

    Of course, Samsung refuses to be outdone by its hometown rival, and has also released a pre-CES press release document dump. Samsung will be launching its own lineup of Micro RGB TVs at CES, for starters. The company already introduced its first Micro RGB TV at CES 2025, which was a 115-inch model available for a cool $30,000. Next year, Samsung is expanding the range with 55-, 65-, 75-, 85-, 100- and 115-inch models that use the next evolution of the company’s Micro RGB technology.

    Samsung is also countering LG’s 5K monitors with a 6K model that aims to deliver glasses-free 3D (another long-time CES staple). It’ll be one of several new displays in the company’s Odyssey gaming line. And the company is also updating its Freestyle projector for 2026, too.

    And on the audio front, Samsung has teased several new soundbars and speakers, including Sonos-style Wi-Fi streaming models call the Music Studio 5 and Studio 7.

    Outside of the formal introduction of new products and initiatives, reading the tea leaves of what was announced last year and what companies are reportedly working on, we can make some educated guesses at what we could see at CES 2026.

    New chips from AMD, Intel and Qualcomm

    CES is frequently the start of a cascade of new chip announcements for a given year, and one of the first places new silicon appears in real consumer products. AMD will likely use its keynote to introduce new versions of its Ryzen chips, including the recently spotted Ryzen 7 9850X3D, which is expected to offer better single-threaded performance, and the Ryzen 9000G series, which could be built with AMD’s Zen 5 architecture. The company might also use its CES stage to go over its new FSR Redstone AI upscaling tech.

    Intel has already publicly announced that it’ll launch its Panther Lake chips at CES 2026. The officially titled Intel Core Ultra Series 3 chips fit into Intel’s overall “AI PC” push, but are specifically meant for premium laptops. Based on a preview from October 2025, Intel says the first chip made with its 2-nanometer 18A process will offer 50 percent more processing performance than previous generations and for the chip’s Arc GPU, a 50 percent performance bump from last generation.

    Qualcomm is also rumored to be targeting laptops at the show, building on the work it’s done moving its Snapdragon chips out of phones and tablets and into other types of computers. The company’s Snapdragon X2 Elite and X2 Elite Premium chips should start appearing in laptops at CES 2026, offering a look at the improved speed and AI performance the company promised in 2025.

    Brighter, “truer” screens

    As noted above, Samsung and LG appear to be going all-in on Micro RGB display tech for TVs. Expect that to be a huge buzzword at CES, with Hisense and Sony debuting new models, too.

    Sony announced a collection of new Bravia TVs in April 2025, replacing the company’s flagship, filling in its midrange options and adding a new budget model to the mix. The star of this updated Bravia lineup is the Bravia 9, which features a QD-OLED panel, but Sony appears to be prepping entirely new display tech for 2026. In March 2025, Sony introduced a new RGB LED panel that uses individual Mini LED backlights colored in red, green and blue to produce even brighter, more accurate colors. In contrast to a QD-OLED, which filters a layer of blue organic light emitting diodes through quantum dots that change color, Sony’s “General RGB LED Backlight Technology” can get as bright as a Mini LED panel without needing an extra filter layer or worrying about OLED’s problems with burn-in.

    The company has already trademarked the name “True RGB,” which could end up being what Sony calls this new flavor of display if it decides to show them off at CES. It seems entirely likely, because CES is nothing if not a TV show — it’s a sure bet that we’ll see new TVs from the likes of LG and Samsung in addition to Sony. If the company doesn’t introduce new display tech for its TVs, it does have a new 240Hz PlayStation monitor coming in 2026 that it could show off at CES instead.

    Sony isn’t the only company hyped on bright screens. Samsung is reportedly pushing an updated version of the HDR10 and HDR10+ standards that could be ready to demo at CES 2026. The new HDR10+ Advanced standard would be Samsung’s answer to Dolby Vision 2, which includes support for things bi-directional tone mapping and intelligent features that automatically adapt sports and gaming content. Samsung’s take will reportedly offer improved brightness, genre-based tone mapping and intelligent motion smoothing options, among other improvements.

    And maybe your future TV won’t need a power cord, either: Displace will be showing off a mounting option that includes a 15,000mAh battery to juice up whatever giant TV screen you choose to attach.

    Ballie Watch 2026

    The ball-shaped yellow robot lovingly known as “Ballie” has been announced twice, first in 2020 and then again in 2024 with a projector in tow. Samsung said Ballie would go on sale in 2025 at CES last year and then shared in April 2025 that Ballie would ship this summer with Google’s Gemini onboard. But it’s nearly 2026, and Ballie is nowhere to be seen. It’s possible Samsung could make a third attempt at announcing its robot at CES 2026, but whether or not it does, robotics will still be a big part of the show.

    Robot vacuums and mops were a major highlight of CES 2025, and it’s safe to expect notable improvements from the new models that are announced at CES 2026. Not every company will adopt the retractable arm of the Roborock Saros Z70, but robot vacuums with legs for rising over small ledges like the Dreame X50 seem like they could become the norm. Roborock could also show off its new Roborock Qrevo Curv 2 Flow, the first of its robot vacuums to feature a retractable roller mop.

    Beyond just traversing spaces more efficiently, improving robots’ navigation could also be a major concern at the show. Prominent members of the AI industry are turning their attention from large language models to world models, which aim to give AI a deep understanding of physical space. Those world models could be the key to making robots — like LG’s aforementioned CLOiD — competent at navigating homes and workplaces, and will likely be a significant talking point at CES 2026.

    We’ll be updating this article throughout the month as more rumors surface and new products are confirmed — stay tuned for future updates!

    Update, December 11 2025, 11:03AM ET: This story has been updated to include detail on Lenovo being Motorola’s parent company and how the latter might have a part in the Tuesday presentation.

    Update, December 16 2025, 1:33PM ET: This story has been updated to include the NVIDIA press conference, which was added to the CTA schedule within the last two days.

    Update, December 23 2025, 7:28AM ET: This story has been updated to include LG and Samsung’s Micro RGB TV announcements, which were made public in the past seven days. The intro was also tweaked to reflect how soon CES is at this point.

    Update, December 29 2025, 11:03AM ET: This story has been updated to include additional details on pre-announcements from Samsung, LG and Displace.

    Update, December 31 2025, 12:05PM ET: This story has been updated to include yet more early LG announcements.

    Update, January 3 2026, 8:45AM ET: This story has been updated to include still more Samsung and LG announcements.

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    Ian Carlos Campbell,Cherlynn Low

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  • Catching Every Announcement at the Pokémon World Championships

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    San Francisco will transform into Lumiose City.
    Photo: Frederic J. Brown/AFP via Getty Images

    Pika pika! Oh, sorry, you don’t speak Pikachu. The Pokémon World Championships, a competition of many Poké mediums, took over Anaheim this past weekend and briefly demoted Mickey to the second most famous dancing mouse in a little costume in Southern California. Rest assured Mickey, Pikachu will be moving on next year as Worlds will head to San Francisco in 2026, along with some huge changes to competition. Here’s every announcement from the Pokémon World Championships, in case you didn’t catch them all.

    While Worlds had plenty of activities for the more casual trainers or those who were eliminated from the competition throughout the weekend, there’s now a destination for fans who want a more traditional convention experience. Alongside the Pokémon World Championships in San Francisco next August, Pokémon XP will make its grand debut as a new fan experience, featuring panels, workshops, special guests, and a store exclusively for ticketed guests. It’ll all lead up to the final day of competition at the Chase Center, the same arena where the Golden State Warriors play — Mewtwo basically has the same stats as a basketball player.

    On Sunday evening, Eternatus reigned terror on the Anaheim convention center. Digitally, of course. For everyone else, they’ll have to complete GO pass tasks this week to encounter Eternatus during the Dark Skies event.

    Normally, the phrase “mega ex” sounds like nightmare fuel for your therapist, but thankfully, in Pokéland, it just means even cooler Pokémon. Mega Charizard X ex, Mega Gardevoir ex, and Mega Lucario ex will soon be unwrapped from a pack near you. Well, if you’re able to score one. New evolution Mega Dragonite is coming too, but we assume it will probably be released after Z-A.

    Mega Gyarados ex, Mega Blaziken ex, and Mega Altaria ex are debuting this Fall to Pocket to a digital pack near you soon.

    Okay, Dhelmise and Empoleon will be there too. Empoleon, Dhelmise, and Vaporeon will be added to Pokémon Unite, with the first joining on September 19. The latter two will be added at a later date.

    For the next main series video game, there will be a new online battle format where trainers try to defeat the most Pokémon during a set amount of time. Each battle helps players rise in the ranks and the ranks reset every season, so you’ll have to consistently play if you want to stay on the leaderboard.

    Pokémon Champions, originally announced in February, will become the new game for the video game portion of the world competition; it will seemingly have a similar play style to Pokémon Stadium. The free-to-start game comes out sometime in 2026 for mobile users (iOS/Android) and Switch players.

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    Alejandra Gularte

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  • APEX/IFSA Global EXPO Showcases the Future of Aviation With Nearly 3,000 Industry ‎Professionals in Attendance

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    LONG BEACH, Calif., November 4, 2024 (Newswire.com)
    –
    Nearly 3,000 of the top airline industry decision-makers, including representatives from 90 airlines, walked the industry’s most comprehensive show floor, APEX/IFSA Global EXPO 2024. Co-located with Future Travel Experience (FTE) the record-breaking event featured 262 exhibitors across three shows representing the full spectrum of the passenger experience.

    Attendees experienced cutting-edge airline-related technologies, products, and services, such as advanced in-flight connectivity, next-generation in-flight entertainment (IFE) systems, innovative food and beverage offerings, sustainable amenity kits, biometric solutions, airport robotics, and much more.

    “APEX/IFSA Global EXPO 2024 stood as a remarkable convergence of aviation’s brightest minds, where game-changing innovations and in-flight service advancements were not only discussed but realized,” APEX/IFSA CEO Dr. Joe Leader stated. “With three days of airline-driven thought leadership on best-in-class supplier solutions, we introduced a new level of collaboration to advance passenger-centric technology. Additionally, the integrated, all-in-one show floor featured key elements of the passenger experience, bridging from Future Travel Experience airport to in-flight, showcasing the best in the aviation industry.”

    Industry-First Announcements

    At the APEX/IFSA Global EXPO 2024, Thales and Qatar Airways made an industry-first public announcement: Qatar Airways will equip its new Airbus A321 NX fleet with Thales’ FlytEDGE, a Cloud-native IFE platform. This collaboration introduced the Crystal Cabin Award-winning FlytEDGE IFE server, which utilizes Cloud computing technologies and an open software platform to enhance the passenger experience.

    Separately at the APEX/IFSA Global EXPO 2024, Riyadh Air and Panasonic Avionics launched a strategic partnership to transform in-flight entertainment. Riyadh Air will equip its fleet with Panasonic’s high-definition IFE systems, emphasizing seamless connectivity and personalized content. In a pioneering move, Riyadh Air introduced the industry’s first “no handset” philosophy across all classes of service, allowing all passengers to seamlessly control IFE using their smartphones and touchscreen.

    Exclusive Insights from C-Suite Keynotes

    At the APEX/IFSA Global EXPO, attendees had an exceptional opportunity to hear from leading airline CEOs and executives as they delivered keynote speeches that reshaped understanding of passenger service and the future of the travel experience. These industry leaders shared invaluable insights into how airlines were innovating to enhance customer satisfaction, streamline operations, and adapt to evolving passenger needs. Sessions were moderated by BBC News Correspondent & Anchor Michelle Fleury and Dr. Joe Leader. Speakers included:

    • Michael Rosseau, President and Chief Executive Officer, Air Canada 
    • Shai Weiss, Chief Executive Officer, Virgin Atlantic 
    • Con Korfiatis, Chief Executive Officer, Oman Air 
    • Matthew Klein, Executive VP and Chief Commercial Officer, Spirit Airlines 
    • Fiona Kiesel, Chief Guest Officer, Breeze Airways 
    • Samson Arega Bekele, Group Vice President Customer Experience, Ethiopian Airlines 

    Thought Leadership Conference Brings Together Top Industry Leaders

    Knowledge sharing and expert insights continued as part of the Thought Leadership Conference, sponsored by Panasonic, on the tradeshow floor which brought together leading figures from the aviation industry to discuss emerging trends and critical challenges. An overview of the sessions is as follows:

    • Seth Miller of PAXEX.AERO led a discussion on connectivity models and their impact on airline net promoter scores with Xia Cai of Qatar Airways, Matthew Klein of Spirit Airlines, and Alex Wilcox of JSX. ‎
    • Ingo Wuggetzer of Airbus was joined by Delta Flight Products’ Tyler Anderson Lennert, National Disability Authority and Center for Excellence in Universal ‎Design’s Jack Kavanagh, and PriestmanGoode’s Jo Rowan ‎to collectively present a cross-industry approach to ‎develop solutions for air travel for those with mobility impairments. 
    • Miguel Ferreira of TAP Air Portugal, Blake Rittenberg of JetBlue, and Dominic Green of United Airlines joined a panel led Maryann Simson of Jetway Communications to discuss forward-looking strategies and creative curation approaches intended to ‎revolutionize the IFE landscape by 2030.‎
    • Oren Butansky of EL AL and Nick Ewen of The Points Guy along with Mark Muren of United Airlines and Captain Wirush Theparak, Thai Airways explored strategies to maximize in-flight ancillary revenue through personalized passenger experiences, leveraging data and technology to boost loyalty and profitability.
    • Stephan Schulte of Lufthansa Group and Joshua Hirschheimer of Porsche Consulting focused on overcoming persistent supply chain challenges affecting onboard product innovation.
    • Riyadh Air’s Anton Vidgen, Aeroméxico’s Antonio Fernandez, Cathay Pacific’s Guillaume Vivet, Southwest Airlines’ Matthew Kiesel, ‎ and Delta Air Lines’ Ekrem Dimbiloglu joined a debate moderated by Jetway Communications’ Maryann Simson, on the future of in-flight entertainment preferences between traditional seatback screens and the BYOD (Bring Your Own Device) trend.
    • Duncan Jackson of FlightPath3D with Ekrem ‎Dimbiloglu of Delta Air Lines unveiled the first airline launch of FlightPath3D’s accessibility in in-flight maps, detailing how the innovative Accessibility Map aims to improve the travel experience for passengers with unique needs.
    • Lufthansa Group’s Laura Petry ‎and Spafax’s Dimitrios Tsirangelos explored the Connected Content Stream solution, a Crystal Cabin Award finalist, that not only enhance ‎passenger engagement but are also set to transform the travel experience by delivering ‎real-time content updates and personalized services directly to passengers’ devices. ‎
    • Mehdi El Kouch of Airbus, Fabien Pelous of Air France, Patrick Brannelly of Emirates, Paul Verhagen ‎of SAS, and Mustafa Mucahitoglu of Turkish Airlines joined a panel moderated by Robynne Trueman of PAX Tech that analyzed groundbreaking digital innovations for the next-gen airline cabin, ‎demonstrating how cutting-edge technologies and customer-centric design can ‎reshape passenger experiences.‎

    VIP Experiences: The JetZero Experience

    The APEX/IFSA Global EXPO also offered airline professionals access to exclusive VIP events such as The JetZero Experience on Sunday 27 October. JetZero, a pioneering aerospace startup based in Long Beach, showcased their innovative blended-wing body airplane capable of flying trans-oceanic routes and with up to 50% less fuel consumption than a traditional tube-and-wing aircraft. APEX/IFSA airline members and media were given a first-hand look at JetZero’s revolutionary airplane with a walkthrough of JetZero’s cutting-edge facility and discussions with the visionary team behind this aviation breakthrough. 

    APEX/IFSA Awards Ceremony Highlights Excellence in the Airline Industry

    On the last day of the APEX Global EXPO, top airline and supplier members celebrated their peers during the prestigious APEX/IFSA Awards Ceremony, where airlines were recognized for their efforts to enhance the passenger experience over the last year. Hosted collectively by Dr. Joe Leader, BBC News’ Michelle Fleury and The Points Guy’s Nicky Kelvin, the evening honored outstanding airlines and suppliers in the following categories:

    • 2025 World Class Rating: The top 10 airlines in the world awarded in this category achieved the highest audited international standards beyond APEX Five Star™ in safety, sustainability, service, and inclusiveness. Click here for the 2025 recipients. 
    • 2025 APEX Five Star™ and APEX Four Star™ Airline Awards: These airlines were recognized based on verified passenger feedback via TripIt over 1 million flights, representing the most reliable metric for passenger satisfaction. Click here for the 2025 recipients.
    • 2025 APEX Best In Airline Awards:  Recognizing the global airlines providing the best passenger experiences in Cabin Service, Entertainment, Food & Beverage, Seat Comfort & Wi-Fi as voted on by the passengers. Click here for the 2025 recipients. 
    • 2025 APEX/IFSA Awards: Celebrating the best of industry and innovation, APEX/IFSA Awards recognize the new achievements and initiatives that were successfully implemented in the past year. Click here for the 2025 recipients.
    • APEX CEO Lifetime Achievement Award: Dr. Joe Leader presented Air France-KLM Group CEO, Benjamin Smith, with the APEX CEO Lifetime Achievement Award. Through the industry titan’s visionary leadership, Air France-KLM has excelled in all its commercial, operations, and customer service functions, leading to impressive financial performance and taking the airline’s passenger experience to new heights. Click here for more information.
    • APEX Lifetime Achievement Award: Dr. Joe Leader also presented SVP of Non-Theatrical Sales at Paramount Pictures, Joan Filippini, with the APEX Lifetime Achievement Award at the APEX/IFSA Awards Ceremony. Her leadership revolutionized in-flight entertainment content distribution, driving Paramount’s revenues to unprecedented levels. Click here for more information. 

    The 2025 APEX/IFSA Awards Ceremony, which took place during this year’s APEX/IFSA Global EXPO, was sponsored by gategroup and Thales, and in part by BBC News, Blulabs, Formia, Jetliner Cabins, Paramount Pictures, Safran, and Touch.

    For a complete list of upcoming APEX, IFSA, and FTE events, please visit APEX Events. For more information about APEX, visit apex.aero, sign up for the APEX Daily Experience e-newsletter, or follow APEX on Twitter, Facebook, Instagram and LinkedIn. 

    ###

    About the Airline Passenger Experience Association (APEX)

    As a global non-profit and one of the world’s largest international airline associations, APEX accelerates the industry with the backing of nearly every major airline and valued supplier. APEX reinvests all its resources to serving its members, strengthening the worldwide airline industry, advancing thought-leadership, fostering business opportunities via events, developing global initiatives, setting key airline standards, and highlighting well-deserved recognition across our industry. In conjunction with both the International Flight Services Association (IFSA) and Future Travel Experience (FTE), APEX serves the full spectrum of the end-to-end travel experience. 

    About the International Flight Services Association (IFSA)

    The International Flight Services Association (IFSA) is a global professional association serving the needs and interests of airline and railway personnel, caterers and suppliers who provide onboard services on regularly scheduled travel routes. Under the umbrella of APEX (Airline Passenger Experience Association) serving every major airline in the world, IFSA is dedicated to the advancement of the art and science of the multi- billion dollar in-flight and railway onboard service industry. For more information about IFSA, please visit ifsa.aero, or follow IFSA on Twitter, Facebook, and LinkedIn.    

    Source: APEX / IFSA

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  • Making sense of the Bank of Canada interest rate decision on April 10, 2024 – MoneySense

    Making sense of the Bank of Canada interest rate decision on April 10, 2024 – MoneySense

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    Sentiment around the interest rate decision 

    The rate hold was largely anticipated by markets and economists. Many hoped it to be the central bank’s last hold before pivoting to a cutting cycle (lowering the rate, finally). Optimism around this has grown following February’s inflation report, in which the Consumer Price Index (CPI) clocked in at 2.8%, which is within one percentage point of the BoC’s 2% target. 

    However, the BoC itself seems less enthusiastic about this prospect. 

    The tone and language used in the announcement by the BoC’s Governing Council (the team of economists setting the direction for Canadian interest rates) clearly stated that inflation risks remain too high for comfort. 

    Why is the BoC holding its rate?

    This is due to steep shelter and mortgage interest costs right now, which are the largest contributor to the CPI. However, the council did note that the core inflation metrics the BoC monitors (referred to as the median and trim) have improved slightly to 3%, with the three-month average moving lower. This is notable, and likely the clearest signal the central bank may be preparing to cut rates—but the BoC needs to see more of this trend before it’ll make a downward move.

    Is inflation still too high in Canada?

    “Based on the outlook, Governing Council decided to hold the policy rate at 5% and to continue to normalize the Bank’s balance sheet,” reads the BoC’s announcement. “While inflation is still too high and risks remain, CPI and core inflation have eased further in recent months. The Council will be looking for evidence that this downward momentum is sustained.”

    The BoC also updated its inflation forecast, expecting it to remain at 3% during the first half of 2024, fall below 2.5% in the last six months of the year, and finally dip under the 2% target in 2025.

    As this marks the BoC’s sixth consecutive hold, there hasn’t been a change to the prime rate since July 2023. That means the cost of borrowing has sat at a two-decade high for the last nine months—and that certainly has implications for all Canadians. Here’s how you may be impacted, whether you’re shopping for a mortgage, saving a nest egg, or making an investment decision.

    How the Bank of Canada’s interest rate affects you

    What the BoC’s rate hold means if you’re a mortgage borrower

    First and foremost: If you’re a variable mortgage holder, you are the most directly impacted by the BoC’s rate direction out of everyone on this list. This is because the pricing for variable products is based on a “prime plus or minus” method. For example, if your variable rate is “prime minus 0.50%,” your variable rate today would be 6.7% (7.2% – 0.50%).

    As a result of this most recent rate hold, today’s variable mortgage holders won’t see any change to their current mortgage payments; those with “adjustable” or “floating” rates will see the size of their monthly payments stay the same. Those with variable rates on a fixed payment schedule, meanwhile, won’t see any change to the amount of their payment that goes toward their principal loan. All variable-rate mortgage holders—and those with HELOCs, too—will continue to experience stability, though these Canadians may be frustrated that the BoC continues to be coy around future rate-cut timing.

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    Penelope Graham

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