Bank of Canada lowers key interest rate by 0.75% | General comparisons | Discussion forum

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Bank of Canada lowers key interest rate by 0.75%  

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12:00 pm
December 9, 2008


Peter

Admin

posts 338

Savers cry, those with variable rate mortgages rejoice:

http://www.canada.com/topics/news/national/story.html?id=1051922

5:33 pm
December 9, 2008


Max

Member

posts 111

I think I should buy a new house right now ;)

My mattress is far more comfy with all my money under it.

12:46 am
December 10, 2008


Peter

Admin

posts 338

Banks don't fully pass on rate cuts for mortgages:

http://www.thestar.com/Business/article/551153

It remains to be seen whether the banks will hit savers with the full rate cut…

9:59 pm
December 10, 2008


Doug

Guest

Yes, it will definitely be interesting.

I tend to think, having just lowered interest rates on savings accounts, they will stay the same for another month and then go down by either a quarter or a half percentage point.

Cheers,
Doug

5:44 pm
March 3, 2009


Peter

Admin

posts 338

Here we go again, another 0.5% rate cut to the key interest rate to a record low of 0.5%:

http://news.yahoo.com/s/afp/20090303/wl_canada_afp/financeeconomycanadabankrate_20090303173852

9:12 am
March 5, 2009


financier

Guest

what ever cut bank of canada is doing, not much benefit for present buyers as no bank offering any variable rates with prime less, but you have very good prime plus, so i think if someone buys home thinking prime rate, they r in trouble.

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Bank of Canada lowers key interest rate by 0.75%

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