The banks said they would decrease the prime rate by 25 basis points from 5.45 per cent to 5.20 per cent just hours after Canada’s central bank cut its interest rate by a quarter point to 3 per cent.

Paul Volcker wanted to tame inflation and the Bank of Canada followed suit. The prime rate, which had fallen to 12.25% in July 1980 jumped to 22.75% by August 1981. A five-year fixed rate mortgage ...

Our opinions are our own. The prime rate is a base rate set by financial institutions in Canada to determine the variable interest rates they can charge on lending products, such as mortgages and ...

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 ...

How the Bank of Canada target rate change can affect Canadians renewing mortgages in 2025 and 2026 and 10 steps homeowners can take to prepare ...

BMO’s prime rate was lowered to 5.25% on January 30, 2025, following the Bank of Canada rate announcement. BMO’s prime rate is the basis for its variable-rate lending products, like mortgages ...

Who benefits from the latest Bank of Canada rate announcement? Learn how to use the latest rate drop to boost your financial ...

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The Bank of Canada’s independence could be tested as Mark Carney, former governor of both the Bank of Canada and the Bank of ...

Canada indeed has a DST which imposes a three per cent tax on digital service providers with revenue exceeding $20 million.

Fixed-rate mortgages, which follow the trajectory of bond yields, have fallen, with some available rates below 4%, one ...

China leaves loan prime rate unchanged amid tariff jitters ... Week Ahead: BoJ, PBoC, PMIs, UK jobs, Inflation data from Canada, Japan and NZ By Ryan Anderson - Jan 17, 2025 MON: US Presidential ...