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Blog by Linda M Linfoot

Bank of Canada Rate Announcement Oct 24

October 24th, 2018
Bank of Canada raises rates – Prime Rate is now 3.95%

As expected, the Bank of Canada raised its target for the overnight rate to 1.75% today--which inevitably means variable mortgage rates, once again, are on their way up.

Citing a solid global economic outlook, reduced trade policy uncertainty (thanks to the new USMCA deal), as well as a Canadian economy operating close to potential, the Ba ...