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Why Canada’s big banks aren’t too worried about household debt

Why Canada’s big banks aren’t too worried about household debt

Canada sets interest rates Wednesday, and there’s widespread concern about what any further borrowing-cost increases might mean for consumers, their immense pile of debt and the housing market. It’s one of the reasons to be bearish on Canada. Steve Eisman, who was featured in Michael Lewis’s book “The Big Short,” told Bloomberg TV this month […]

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 […]