Bank of Canada cuts key lending rate
October 21, 2008 8:07 am Credit, Interest Rates, News
According to the Globe and Mail the Central Bank of Canada has decided to drop their prime lending rate once again. This time by ¼ of a percentage point.
The last time they dropped the rate by ½ percent it took the big five chartered banks a little while to drop their key lending rate. Some banks even decided to hold back some of the rate cut.
So I will be keeping an eye out to find out how your lenders will react.
Please call if you have any questions.
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