BREAKING NEWS: Bank of Canada has left its key interest rate unchanged For the first time in a year, the Bank of Canada has lefts its overnight target rate unchanged, keeping it at 4.50%. In a statement released this morning, the Bank noted, “Global economic developments have evolved broadly in line with the outlook in […]

This morning the Bank of Canada announced an increase to their policy interest rate by 50 basis points from 3.25% to 3.75% as they continue their quantitative tightening. This increase in the Bank of Canada rate will mean a change to the Prime Lending Rate. Banks and other financial institutions will raise their prime rate […]