Bank of Canada Raises Interest Rate

Jan. 17, 2018 | In The News | By Aaron Rossetti

The Bank of Canada raised its key lending rate to 1.25 per cent. This marks the third rate hike since last summer and marks the highest rate since 2009. To follow the move, Canada's five biggest banks - Royal, TD, CIBC, BMO and Scotiabank - all raised their prime lending rates to 3.45 per cent (from 3.2).

Learn more about the Bank's move at the source link below.

Have questions about this decision and how it relates to the value of your home or purchasing decision? We'd be pleased to discuss. 604.983.2518.