Richard Silver

Bank of Canada Cuts Interest Rates! January 2009!

Below is a press release from the Canadian Real Estate Association about the Bank of Canada cutting rates.  Bank of Canada cuts interest rates again in January Published January 20, 2009 As widely expected, the Bank of Canada lowered its benchmark overnight lending rate by a half of a percentage point to one per cent at its setting on January 20th, 2009. The trend-setting Bank rate, which is set 0.25 percentage points above the overnight lending rate, declined to 1.25 per cent. The Bank acknowledged...Continue Reading...