1 yr. GIC Rate Increased to 1.90% | Peoples Trust | Discussion forum

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1 yr. GIC Rate Increased to 1.90%
January 24, 2022
7:09 am
GR
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Peoples Trust 1 yr. rate of 1.90% now matches Oaken, but 2%+ for 1 yr. is available at other FIs and rates will continue upward trend.

https://www.peoplestrust.com/en/peoples-trust/high-interest-accounts/rates/

January 24, 2022
8:45 am
Loonie
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Yes. I think the BoC must be going to raise rate this time. Even Meridian has increased rates about a quarter point since earlier in the month.
Once people realize that rates are likely to continue to go up, they will be reluctant to put money in GICs right away. Perhaps this in turn would cause rates to increase faster?

January 24, 2022
12:15 pm
cgouimet
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And... The TSX, DJ, S&P AND NASDAQ have been bleeding at the thought...

CGO
January 24, 2022
1:07 pm
Loonie
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I think situation in Ukraine is bothering them more than interest rates right now. This is a major internatioanl crisis in my books.

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