Tag Archive: Interest rate increase

Big banks hike prime rates after Bank of Canada tightens monetary policy

n the wake of the Bank of Canada’s move Wednesday to boost a key interest rate, Canada’s big banks have boosted their prime rates. RBC was first off the mark, followed quickly by the others, raising their prime rates to 3.2 per cent from 2.95 per cent, where they had been since the ...

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Bank of Canada raises interest rate from 0.75% to 1%!

The Bank of Canada raised its key interest rate by another quarter of a percentage point, up to 1 per cent from 0.75 per cent, on Wednesday. The decision, which follows a first hike in July, could be just the second in a string of rate increases to come, some ...

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