Wednesday, September 9, 2015

Bank of Canada Announces Overnight Rate

The Bank of Canada has opted not to lower or raise its benchmark interest rate, choosing to keep it at 0.5 per cent. Therefore Prime rate will remain at 2.70%.

Economists had been expecting the bank to keep its trend-setting target for the overnight rate where it is now. A few believe, however, that another cut might be possible later in the year unless the economic picture improves.

Click here to read further on this decision.

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