Bank of Canada Increases Overnight Rate by 0.75% (75 basis points): Why and How it could impact you.
Wednesday Sep 14th, 2022
ShareBank of Canada Increases Overnight Rate by 0.75% (75 basis points): Why and How it could impact you. On September 7th, the Bank of Canada increased its overnight rate by 0.75% (75 bp) lifting it to 3.25%. This increase was in line with most economists expectations, and builds on the 1.00% (100 bp) rate hike from July. Lenders will be raising their Prime Lending Rates accordingly increasing from 4.70% to... [read more]
