Bank of Canada Maintains Rate At 1% – 10/25/2011
Oct25

Bank of Canada Maintains Rate At 1% – 10/25/2011

On 10/25/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% (1 1/4 percent) and the deposit rate is 0.75% (3/4 percent).

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2011 Mid-Year Canadian Economic Update & Outlook
Jun01

2011 Mid-Year Canadian Economic Update & Outlook

In the first half of 2011 Canada’s economy saw modest improvement, but was pressured by high unemployment, prices, increasing imports, and household debt.

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Bank of Canada Maintains Rate At 1% – 5/31/2011
May31

Bank of Canada Maintains Rate At 1% – 5/31/2011

On 5/31/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% (1 1/4 percent) and the deposit rate is 0.75% (3/4 percent).

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Canadian Banks Lower Rates 5/28/2011
May28

Canadian Banks Lower Rates 5/28/2011

On 5/27/2011, four of Canada’s largest banks announced decreases to a number of their fixed rate mortgages by 0.10%. The Royal Bank of Canada (RBC), Toronto Dominion Bank (TD Canada Trust), Bank of Montreal (BMO), and Bank of Nova Scotia (Scotiabank)..

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Bank of Canada Maintains Overnight Rate At 1% – 4/12/2011
Apr12

Bank of Canada Maintains Overnight Rate At 1% – 4/12/2011

On 4/12/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% (1 1/4 percent) and the deposit rate is 0.75% (3/4 percent). . Canada’s Recovery & Rebalancing Of Demand The move reflects the central bank’s observation that economic activity in Canada has been “stronger than the Bank had anticipated”: • Aggregate demand is rebalancing toward business...

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TD Canada Trust Raises Rates 4/5/2011
Apr04

TD Canada Trust Raises Rates 4/5/2011

On 4/4/2011, the Toronto Dominion Bank (TD Canada Trust) [TD/tse:TD], announced fixed mortgage rate increases. It is expected that the other big banks (Royal Bank, CIBC, Scotia, National Bank, BMO, etc) will follow suite and raise rates as well.

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Bank of Canada Maintains Overnight Rate At 1% – 3/1/2011
Mar01

Bank of Canada Maintains Overnight Rate At 1% – 3/1/2011

On 3/01/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% (1 1/4 percent) and the deposit rate is 0.75% (3/4 percent). . Canada’s Recovery & Rebalancing Of Demand The move reflects the central bank’s observation that economic activity in Canada has been proceeding “slightly faster than expected” compared to its previous projections: •...

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Bank of Canada Holds Overnight Rate At 1% – 1/18/2011
Jan18

Bank of Canada Holds Overnight Rate At 1% – 1/18/2011

On 1/18/2011, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. . Canada’s Weak Net Exports & High Household Debt The move reflects the central bank’s observation that economic activity in Canada has been proceeding as expected compared to its previous projections.  However, the BoC still remains cautious: • Government...

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RBC Royal Bank Raises Rates 12/15/2010
Dec15

RBC Royal Bank Raises Rates 12/15/2010

On 12/14/2010, The Royal Bank of Canada (RBC) [RY/tse:RY] announced mortgage rate increases, along with the Toronto Dominion Bank (TD Canada Trust) [TD/tse:TD].  It is expected that the other big banks will raise rates by the end of the week. Royal Bank increased its 5 year closed mortgage 0.20% to 4.24%.  Its 6 month convertible rate increased 0.10% to 4.05%.  Other special rate offers also increased. TD Canada Trust’s 5 year...

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Bank of Canada Maintains Overnight Rate Target At 1% – 12/7/2010
Dec07

Bank of Canada Maintains Overnight Rate Target At 1% – 12/7/2010

On 12/7/2010, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. . Canada’s weak net exports & productivity The move reflects the central bank’s observation that economic activity in Canada has been slightly weaker than it projected in October, due to weak net exports and productivity (declines in GDP).  The...

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