The Bank Of Canada Keeps Interest Rate At 1.25%
The Bank of Canada (BoC) announced Wednesday it’s keeping its trendsetting interest rate at 1.25%. This interest rate is called the “Overnight Rate” and is what dictates the prime consumer lending rates of Canada’s “Big Six Banks.” For context, the… Read More
March 7, 2018Blog
Consumer lending rates jump after Bank of Canada hike: but what does this mean for you?
The Bank of Canada (BoC) raised its trendsetting interest rate from 0.75% to 1% on Wednesday, prompting Canada’s “Big Five Banks” to increase prime consumer lending rates. Effective Thursday, RBC, BMO, TD, Scotiabank, and CIBC will all increase prime lending… Read More