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The Bank of Canada interest rate won’t be changing for the rest of 2018. On December 5, 2018, the Bank of Canada (BOC) announced the overnight interest rate would be staying at 1.75% for the time being. The 1.75% rate came into effect on October 24, 2018. Factors in the BOC decision included: Oil price

As predicted, the Bank of Canada interest rate for October 2018 has gone up again — this time to 1.75%. Many economists saw this coming, particularly after the North American Free Trade Agreement (NAFTA) deal resolved. In fact, the new US-Mexico-Canada Agreement (USMCA) was one of the reasons the Bank of Canada (BOC) gave for

It is appearing increasingly likely that we will see another hike during the October 24 Bank of Canada (BOC) interest rate announcement. Since July of 2017, the BOC has increased Canadian interest rates four times, with the last increase being in July of 2018 when it hit 1.5%. The BOC maintained the 1.5% rate during

For those struggling with debt, the struggle just became that much harder. The Bank of Canada interest rate increased again on January 17, 2018, going up to 1.25% — the highest it’s been in nine years. BOC interest rate hikes started in July of 2017 when the rate went from 0.5% to 0.75%. It increased