Valueland's blog

Bank of Canada Holds Interest Rate Steady

While the anticipations are for the interest rate to go up, Bank of Canada has taken a conservative approach and announced to maintain the overnight lending rate at 1.25%. 

The next interest announcement date is May 30th and we yet to find out whether the rate hike is going to happen.

Bank of Canada Increases Interest Rate

Earlier this morning, BOC has announced interest rate increase by 0.25%.

That means today's prime rate of 3.20% will soon be 3.45% for most banks and financial institutions (TD's prime is 3.35%, will soon be 3.60%).