EQ from 5.1 to 5.0 - 1yr term | EQ Bank | Discussion forum

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EQ from 5.1 to 5.0 - 1yr term
December 12, 2022
10:47 am
higrader
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December 12, 2022
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Why would they be dropping their 1yr rate when we're all waiting for the uptick due to the recent .5% BOC increase?

December 12, 2022
11:40 am
AltaRed
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The usual reason from any FI: They don't need to pay more for the funds (deposits) they want to attract.

December 12, 2022
11:46 am
Norman1
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Perhaps, one-year GIC money was flowing in a bit faster than Equitable Bank could lend it out.

Banks really don't care about what their GIC rates are in relation to the short term Bank of Canada overnight rates.

December 12, 2022
11:51 am
savemoresaveoften
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Norman1 said
Perhaps, one-year GIC money was flowing in a bit faster than Equitable Bank could lend it out.

Banks really don't care about what their GIC rates are in relation to the short term Bank of Canada overnight rates.  

on top they dont really how they compare to other FIs, if they dont want the money, they dont want it.

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