Ontario Mortgage Information: Bank of Canada lowers overnight rate target by 3/4 percentage point to 1 1/2 per cent

Tuesday, December 9, 2008

Bank of Canada lowers overnight rate target by 3/4 percentage point to 1 1/2 per cent

[Source - Bank of Canada]
OTTAWA – The Bank of Canada today announced that it is lowering its target for the overnight rate by three-quarters of a percentage point to 1 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 1 3/4 per cent.

Read Full Article Here - http://www.bank-banque-canada.ca/en/fixed-dates/2008/rate_091208.html

It will be interesting to see if the banks will match the 3/4 rate drop.

No comments:

Post a Comment

The columns, articles, message board posts and any other features provided on Ontario Mortgage Information are provided for personal finance and investment information and are not to be construed as investment advice. Under no circumstances does the information in this content represent a recommendation to buy, sell or hold any security. The views and opinions expressed in an article or column are the author's own and not necessarily those of Ontario Mortgage Information and there is no implied endorsement by Ontario Mortgage Information of any advice or trading strategy.