Our interest rates are changing on October 29, 2024 | EQ Bank | Discussion forum

Dean said
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HUGE Drops in some of those ⬆ rates ... Especially in those Notice SAs ❗

All of a sudden ... they've Lost their Luster.

Dean

  

That should be expected for the Notice accounts with their associated liquidity constraints. I suspect they are more or less correlated to other short term paper like BAs, 30 day duration MMFs, etc. which will also drop 50bp within their specific 'duration' periods.

Added: The brokerage CAD denominated ISAs will be dropping 50bp as early as today, likely with RBC and TD leading the way as usual. We will see similar drops in 1 year GICs here, and to some extent HISAs to varying degrees. We may well see 1 year GiC rates as low as, or lower than, 5 year GIC rates due to a flat/flattening bond yield curve.

Note how today's (Oct 24th) bond yield curve changed from a month ago https://www.worldgovernmentbonds.com/country/canada/ 2-5 year rates actually increased that could put upward pressure on longer term GIC rates and fixed term mortgage rates.