The Bank of Canada (BoC) sets the official overnight rate — the benchmark target rate used by banks, credit unions and lenders to establish interest rates. This benchmark rate greatly impacts savings accounts, mortgages, interest rates charged on personal and car loans and other forms of debt...
Wednesday's announcement is in line withmarket predictions. Canada is quickly moving towards its target of a 2 per cent Consumer Price Index, with a 2.7 per cent rise in June. Promising inflation data from the U.S. also supported the possibility of another cut. How this BoC rate cut affec...
Economists were split on whether the Bank of Canada would go with half or three-quarters of a percentage point heading into the announcement Wednesday. Tu Nguyen, an economist with RSM Canada, said the announcement is “surprising” and “risky” given the U.S. Federal Reserv...
“To reverse the giant sucking of the overnight reverse repo facility, all the Fed needs to do is lower the interest rate it pays,” said Bill Nelson, chief economist at the Bank Policy Institute—a Washington, D.C.-based trade group—and a former Fed staffer. In June 2021, the Fed ...
Most economists had forecasted a rate hike of three-quarters of a percentage point. Tu Nguyen, an economist with accounting and consulting firm RSM Canada, said that while the rate announcement may have come as a surprise, it isn’t unreasonable given the rate of inflation, rising inflation ex...
Most economists had forecasted a rate hike of three-quarters of a percentage point. Tu Nguyen, an economist with accounting and consulting firm RSM Canada, said that while the rate announcement may have come as a surprise, it isn’t unreasonable given the rate of inflation, rising inflation ex...
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LOS ANGELES–January 24, 2023CTBC Bank is a long-time member of the Monterey Park and surrounding communities. We stand steadfastly with all those who grieve in the aftermath of this tragic mass shooting. During this most difficult time, we have faith that our community will come together, as...
Real-name Registration for SIM Card Special Announcement According to the arrangement by Office of the Communication Authority, any unregistered pre-paid SIM cards cannot be used after 23 Feb 2023. If you are using a pre-paid SIM card number as your contact number in our bank, please promptly...