Blog by William Lew
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Bank of Canada
March 3rd, 2009Our trusted mortgage broker Matthew Chan keeps us updated on the latest financial market conditions.
Today, the Bank of Canada dropped its key overnight rate by another half percentage point to ½%. This is the lowest ever overnight lending rate. The Prime for most major banks is now 2.50%.
Policymakers have indicated that rates can be expected to stay low as inflation returns to the ...