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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Bank of Canada Holds Rate Steady At 1% – 10/19/2010

On 10/19/2010, 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%. The move reflects the central bank’s lower expectations of a more moderate pace of growth in advanced economies due to global deleveraging activities and difficult labour issues.  In particular, the bank sees a weaker than expected recovery in the US due to...

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The Bank of Canada Raises Overnight Rate to 1% – 9/8/2010

On 9/8/2010, The Bank of Canada (BoC) announced it is raising its overnight interest rate by 0.25% to 1%. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The next scheduled date for announcing the overnight rate target is October 19, 2010. Although almost all retail bank economists, the media, analysts, and many politicians, have voiced their view against the central bank rate increase, it is...

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