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...
The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.25%, while stating that it will continue with Quantitative Tightening (QT). The bank highlighted that economic growth has been weaker than they expected, stating that "the economy grew by 1% in the third quarter,...
OTTAWA, Jan. 26 (Xinhua) -- The Bank of Canada announced Wednesday it keeps its trendsetting interest rate steady at 0.25 percent, while projecting global GDP growth to moderate to about 3.5 percent in the next two years and vowing to achieve the 2 percent domestic inflation target. A state...
We compare the best Canadian high interest rate saving accounts by Canada's most prominent bank. Learn how to get 2.5% interest for your money.
We compare the best Canadian high interest rate saving accounts by Canada's most prominent bank. Learn how to get 2.5% interest for your money.
After raising its interest rate five times since July 2017, the bank has kept its rate at 1.75 percent since October 2018. Unlike its past announcements, the bank made no mention of a need for future increases of its interest rate on Wednesday's decision....
Although the market seems to have priced a similar trajectory of interest rate cuts between the Bank of Canada and the Federal Reserve, Pacific Investment Management Corporation (PIMCO) believes that since the Canadian economy has always been weak, the Bank of Canada will cut interest rates faster...
As the prime rate changes, so do the rates of interest charged on these types of loans. The BoC typically increases the overnight rate when inflation exceeds 3%. The Bank may cut the overnight rate if it’s concerned that inflation will fall below 1%. When the overnight rate increases, ...
The Bank of Canada's target overnight lending rate is 3.25%. The central bank's latest rate decision on Dec. 11 was to lower its overnight lending rate from 3.75% to 3.25%. The next interest rate decision will be made on Jan. 25. Here is the latest d...
Best for high on-going interest rate: EQ Bank Notice Savings Account The EQ Bank Notice Savings Account is our pick for the best ongoing interest rates in Canada. It’s a unique account on the Canadian market because, if you agree to wait longer to withdraw your money from the account, ...