Interest rate

How mortgage rules will impact market Fallback Image Decorative pattern

Economic Indicators

How mortgage rules will impact market

Besides rising interest rates, find out what’s increasing risk for Canada’s financial system

January 25, 2018

3 min read

Updated: Banks hike prime lending rates to 3.45% Fallback Image Decorative pattern

Industry

Updated: Banks hike prime lending rates to 3.45%

Note: This post was updated on Jan. 17, 2018, to include Scotiabank. BMO, CIBC, RBC, Scotiabank, TD and Desjardins today increased their prime lending rates by 25 basis points to 3.45% from 3.20%, effective January 18, 2018. The increased rate will affect the cost of variable-rate lending, including variable-rate mortgages. The hike comes after the […]

By Staff |January 17, 2018

1 min read

BoC hikes interest rate to 1.25% on strong economic data Fallback Image Decorative pattern

Economic Indicators

BoC hikes interest rate to 1.25% on strong economic data

The Bank of Canada (BoC) today raised its target for the overnight rate to 1.25%, an increase of a quarter of a percentage point. The bank rate is correspondingly 1.50%, and the deposit rate is 1.00%. The change is expected to prompt Canada’s large banks to raise their prime lending rates, a move that will […]

By Staff, with files from The Canadian Press |January 17, 2018

4 min read

Expect dovish rate hike, say economists Fallback Image Decorative pattern

Economic Indicators

Expect dovish rate hike, say economists

The Bank of Canada is expected to raise its key interest rate by 25 basis points on Wednesday. “Markets and all economists at all dealers anticipate a hike this time around,” says Derek Holt, vice-president and head of capital markets economics at Scotiabank, in a weekly economics report. Read: Rising rates shake client confidence But […]

By Staff |January 15, 2018

2 min read