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Email this10:30 am
September 24, 2019
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New Tangerine 18Mo. GIC now 3.65% down from 3.9%
10:42 am
January 12, 2019
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Sadly, as time goes on, we're going to continue to see a Lot of that ⬆. The GIC Party is coming to an end.
I'm guessing by this time next year some of us will give up on GICs, and elect to start keeping their $$$ in an old sock. 
- Dean
" Live Long, Healthy ... And Prosper! "
2:05 pm
December 7, 2023
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All banks followed BOC's rate cut, all rates, including GIC, Investment Savings accounts, were down.
CIBC expects the central bank will lower its policy rate by a quarter-point at its next four meetings, total cut 1%.
3:04 pm
October 27, 2013
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Hardly a bold assumption when BoC has already said neutral policy rate is most likely in the range of 2.25-3.25%. The only questions are whether it will be 100bp and how rapidly.
That does not mean multi-year term GICs will see much movement.
3:57 pm
December 7, 2023
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CIBC said: BOC will lower rate by a quarter-point at next four meetings, by mid-2025, cut by 1% totally.
4:20 pm
September 28, 2023
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That is just a forecast, and is subject to change with economic indicators and market conditions.
The other thing that might affect these decisions is the upcoming federal election. Even though the BoC is supposed to act independently of parliament, I think there will be heavy political pressure to lower rates as much as possible (without stoking inflation) to goose economic numbers as we head into campaigns next fall. As the indicator changes lag the interest rate by a few months, I am anticipating aggressive rate cuts this winter.
5:01 pm
September 29, 2017
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Actually, when mapping rate changes in election years, there is no strong correlation. Sometimes they have gone up, sometimes they have gone down in election years. And there is no strong correlation to which party is in power at the time of an election.
The markets have already shown that there is a very strong down trend, and that is very likely to continue well into 2025. The BoC is only echoing what it sees.
5:44 pm
November 19, 2022
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Canadians already are one of the most indebted nations in the world. BOC “let’s lower rates so Canadians will borrow even more to create “growth”.
https://www.imf.org/external/datamapper/HH_LS@GDD/CAN/GBR/USA/DEU/ITA/FRA/JPN/VNM
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