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Email this5:20 pm
August 16, 2022
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After tomorrow's probable 3/4% rate increase by The Bank of Canada big banks and others should follow with increase to 5% imo. Once this happens I'll be locking some $$ in. Getting 4.25% at CIBC via esavings account. GL
9:45 am
January 12, 2019
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" Live Long, Healthy ... And Prosper! "
10:14 am
August 16, 2022
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There you go. People's Trust, 1 year GIC now sits at 5% GL
10:49 am
September 30, 2017
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… but the GIC rates at Peoples are inverted. Better bite soon if I can
12:43 pm
March 30, 2017
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hwyc said
… but the GIC rates at Peoples are inverted. Better bite soon if I can
Think close to or after the next hike, we will see 1y and 2y term flat or 1y just a little bit higher, and the curve completely inverted.
FI has absolutley zero reason to pay up for 5 year money (whether BoC manage to wrestle inflation or not). If banks do pay up for 5y money, it will be due to a nunforeseen scenario that not even the smartest minds are aware of right now.
So GIC will be either
inverted: Cuz BoC continues to pump overnite higher
positive slope: Cuz BoC done hiking due to recession and next move will be rate cut
Either scenario 5y is glued or move lower if recession takes over.
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