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Blog

Bank of Canada lowers overnight rate target to 3/4 per cent

1/27/2015

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The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent. This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada.

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  • Home
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    • HomEquity Mortgages
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  • Mortgage Rates
  • Contact
  • About
    • About Rachel Cousins
    • The Cousins Team
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