At its July 24, 2024, rate announcement, the Bank of Canada once again cut its key lending rate by 25 basis points to 4.50%. Again, the banks cut their prime rate to 6.70%.

In 1991, the government (under then-Prime Minister Brian Mulroney) and the Bank of Canada (BoC) agreed to adopt inflation targets. Initially, the intention was to reduce inflation, as measured by ...

The chorus of economists who think the Bank of Canada isn’t just pausing but could be done cutting interest rates keeps ...

But the senior deputy governor of the Bank of Canada made it clear last week that Canada will chart its own course from now on regarding interest rate hikes—holding steady for now at the 4.50% ...

The Bank of Canada on Wednesday hiked its overnight rate to a 22-year high of 4.75 percent, and markets and analysts immediately forecast yet another increase next month to ratchet down an ...

banks-1026. Canada’s commercial banks began announcing hikes to their prime rate Wednesday after the Bank of Canada raised its key interest rate by half a percentage point.. By Wednesday afternoon ...

Bank prime rates help determine the cost of a range of loans including variable-rate mortgages and lines of credit. The Bank of Canada’s next scheduled interest rate decision is Dec. 11.

Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by a quarter ...

TORONTO - Canadian financial institutions are lowering their prime lending rates to match the half percentage point decrease announced today by the Bank of Canada. Updated Dec. 11, 2024 at 4:40 p ...