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August 24, 2022
3:14 am
Wanderer
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Five year GIC decreases to 4.8. What gives? Yes your savings interest increased a bit but I was really disappointed to see the drop in the GIC.

August 24, 2022
4:17 am
canadian.100
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Wanderer said
Five year GIC decreases to 4.8. What gives? Yes your savings interest increased a bit but I was really disappointed to see the drop in the GIC.  

Likely they predict a recession ... so rates adjusted accordingly. GIC rates do seem to have plateaued.

August 24, 2022
4:51 am
canadian.100
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Seems to me that some of the various GIC rates on Scotia iTrade also have dropped slightly this week.

August 25, 2022
3:36 pm
Wanderer
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My guess is rates will go up in the fall and then PT won’t have to raise past 5% then. Not liking that game if that’s what it is.

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