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Results of This Morning’s Interest Rate Announcement- October 30, 2019
Since late in the first quarter of the year, it’s been predicted that the Bank of Canada will be dropping rates this year. The wait continues however, as the Bank of Canada announced this morning that they will be maintaining their overnight rate. The overnight rate is what prime rate is based on.
This is not something that has come as a surprise, and is exactly what was expected..
The Bank of Canada has been desperately trying to avoid a rate cut this year,...