Bank of Canada raises interest rate for 1st time in 7 years to 0.75% - GIC Wealth Management

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For Your Information Bank of Canada raises interest rate for 1st time in 7 years to 0.75%

Bank of Canada raises interest rate for 1st time in 7 years to 0.75%

Bank of Canada raises interest rate for 1st time in 7 years to 0.75% – Business – CBC News

The Bank of Canada has raised its key interest rate as expected to 0.75 per cent — the central bank’s first move upward in the cost of borrowing in seven years.

The bank’s target for the overnight rate — at which major financial institutions make one-day loans to each other — moved up by one-quarter of a percentage point from 0.50 per cent.

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http://www.cbc.ca/news/business/bank-canada-interest-rate-monetary-policy-1.4200814