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 investors should short Canadian financials, citing...
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 today (Jan 18). The BoC rate hike was widely expected but what happens next is...
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