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Major lenders hike rates following BoC decision

Major lenders hike rates following BoC decision

Major lenders hike rates following BoC decision Canada’s major banks have been quick to react to the Bank of Canada’s decision to raise interest rates to 1.25%. CIBC, RBC, Scotiabank and TD were among the first lenders to increase their prime lending rates by 25 basis points to 3.45%; the new rates take effect from […]

Bank of Canada Raises Benchmark Rate to 1%

Bank of Canada Raises Benchmark Rate to 1%

The Bank of Canada forged ahead with another interest rate hike in a nod to the country’s surging economy, while signaling its appetite for further tightening may be curbed by a rising Canadian dollar and sluggish inflation. Policy makers raised their benchmark rate for a second time since July, by 25 basis points to 1 […]