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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

Two national trends could mean big trouble for the average Canadian consumer’s wallet. The Bank of Canada interest rate increases, and Record-high Canadian gas prices. Let’s break those down further. Canadian Interest Rates Since July 2017, the Bank of Canada has increased interest rates from 0.5% to 1.5%. The 1.5% interest rate is the highest

Rising interest rates are a front-of-mind topic for most Canadians. Not only can increased rates affect unsecured consumer household debt — like credit cards, some lines of credit, and old bills — but it can also affect secured debts — like your mortgage renewal. On July 11, 2018, the Bank of Canada increased interest rates

On July 11, 2018, the predicted Bank of Canada interest rate increase came true. The Bank of Canada (BOC) announced that interest rates are going up to 1.5%. This is the fourth time interest rates have risen in a year. They first rose from 0.5% to 0.75% in July of 2017, then to 1% in

It’s no secret that interest rates have been on the rise in Canada. In 2017, for the first time in seven years, the Bank of Canada (BOC) increased interest rates by 0.5 per cent, going to 1 per cent. On January 17, 2018 the BOC increased its key rate by another 0.25 per cent. Experts