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Email this6:51 am
November 8, 2018
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Email arrived today.
We’re writing to inform you that on October 29, 2024, the following interest rate changes will take effect for EQ Bank accounts:
8:27 am
January 12, 2019
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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
" Live Long, Healthy ... And Prosper! "
8:41 am
October 27, 2013
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Dean said
.
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.
4:44 pm
January 25, 2024
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At least EQ gave rate change notice few days in advance vs. Hubert which gives rate change as current day of email.
Good, old, Hubert at least was giving notice a day in advance...
6:10 pm
November 8, 2018
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Dean said
.
HUGE Drops in some of those ⬆ rates ... Especially in those Notice SAs ❗
Right. Keeping funds at 30 days Notice account no longer makes sense for me. I'll be moving them to 10 days Notice account, while looking if any other FI I have accounts with offers better rate for HISA.
9:16 pm
October 27, 2013
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The dominoes will fall almost everywhere. It is akin to a pinball machine going on tilt.
4:33 am
November 8, 2018
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The good news (for me) is I can withdraw more from RRSP next year, without extra income tax on withdrawal. For every $100 I will be losing from interest income there will be extra $100 I'll be taking from RRSP. With the same tax bill at the end.
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