Banks cut prime rate to 5.2%, following Bank of Canada's lead
The banks said they would decrease the prime rate by 25 basis points from 5.45 per cent to 5.20 per cent just hours after Canada’s central bank cut its interest rate by a quarter point to 3 per cent. The lower rate, effective Jan. 30, brings relief for variable rate mortgage borrowers.
OTTAWA--The Bank of Canada is formally ending its program to shrink central-bank reserves, and anticipates resuming asset purchases on March 5 as part of normal balance-sheet management.
That’s the prediction of Bank of America economists who think Canada’s central bank will cut 25 basis points on Jan. 29 and ...
Royal Bank of Canada maintains a low nonperforming loans to total loans ratio, indicating quality loans. See why I rate RY ...
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