A bank’s prime rate is based on the Bank of Canada’s overnight rate, also referred to as the policy interest rate. The overnight policy changes impact the prime rate, further affecting the ...

Lenders’ prime rates are based on the Bank of Canada’s overnight rate (also called the benchmark, target or policy interest rate). When the Bank raises its overnight rate (which it does when ...

Compare these factors to decide. When the Bank of Canada’s overnight rate increases, you can earn higher interest on your deposits in HISAs, because financial institutions face competitive ...

An interest rate can ... market conditions and Bank of Canada policy changes are some of the broader factors influencing individual bank rates in Canada. BoC’s overnight rate, also known as ...

We're more than halfway through January, and the Bank of Canada's next interest rate announcement is coming on Jan. 29. Currently, the overnight lending rate is at 3.25 per cent — down from five per ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...