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Bank of Canada raises interest rate to 1.75%
Last edited Wed Oct 24, 2018, 04:42 PM - Edit history (1)
Source: CBC News
Central bank's benchmark rate pushes up borrowing costs for consumers
The Bank of Canada has raised its benchmark interest rate by a quarter point for the fifth time since last summer, pushing up the cost of borrowing for Canadians.
The bank's rate is now set at 1.75 per cent. That's the highest it's been in almost a decade, dating back to December 2008.
<snip>
Read more: https://www.cbc.ca/news/business/bank-canada-interest-rate-1.4875958
Expect other banks to follow suit.
DOW now off 427 points and over 2,100 points in 3 weeks.
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