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Email this7:14 am
May 15, 2007
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Key interest rate is up from 1.00% to 1.25%:
https://www.bankofcanada.ca/2018/01/fad-press-release-2018-01-17/
They expressed caution about the Canadian economy's growth, though:
"Looking forward, consumption and residential investment are expected to contribute less to growth, given higher interest rates and new mortgage guidelines, while business investment and exports are expected to contribute more. "
and
"However, as uncertainty about the future of NAFTA is weighing increasingly on the outlook, the Bank has incorporated into its projection additional negative judgement on business investment and trade."
7:58 am
February 18, 2016
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Could somebody explain to me - how are we affected with this rates and should we care?
8:58 am
July 10, 2011
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Don't think banks even really followed suit last hike... Well savings wise.. Wouldn't surprise me if mortgage rates etc went up though.. Gotta make that $$$...
10:27 am
February 17, 2013
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Yatti420 said
Don't think banks even really followed suit last hike... Well savings wise.. Wouldn't surprise me if mortgage rates etc went up though.. Gotta make that $$$...
2 or 3 of the big 5 raised their mortgage rates earlier in the week in anticipation, I assume, of the rate hike.
2:34 pm
January 3, 2009
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Yatti420 said
Don't think banks even really followed suit last hike... Well savings wise.. Wouldn't surprise me if mortgage rates etc went up though.. Gotta make that $$$...
All the more reason to not deal with most banks unless you absolutely have to. I am astounded how many people are willing to pay for their service even in situations where other institutions are offering the same service for free or at much better rate for consumers.
5:59 pm
October 21, 2013
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Peter's monthly summary of the news reviews interest rate changes. https://www.highinterestsavings.ca/2018/01/savers-roundup-january-2018-rising-interest-rates-tfsa-season-tangerine-q1-promo/
The experts have been keen to tell us for quite some time now that we have recovered from the debacle of 2008, but that mostly reflects the stock market. We have certainly not recovered in terms of interest rates for savers. Peter points out that 10 years ago, the Bank rate was 4.25%.
While we can perhaps rejoice at higher rates, however feeble, Poloz is not taking any serious chances. We have a long way to go at .25 per shot and even less from the banks. It remains to be seen if and when we'll get there.
11:47 pm
February 17, 2013
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Would sure be nice to see some movement on the savings account rates.
6:12 pm
January 3, 2009
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Rick said
Would sure be nice to see some movement on the savings account rates.
The problem is, there's no direct profit in it for 'them' if we save. 
6:56 am
November 19, 2014
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As anticipated, TD has raised their HELOC interest rate this morning, based on an increase in their prime rate.
Now paying prime(3.45%)+0.50%
As a bank shareholder I am okay with it. They exist to make money for us.
Per usual, I am sure the deposit rates will creep up a little (probably 10 points, not 25) over the next month.
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