In July, Canada’s inflation rate slowed again to 2.5%, a 40-month low. And at its policy announcement meeting on September 4, 2024, the BoC again cut its key overnight lending rate by 25 basis ...

That led economists at Scotiabank and the Bank of Montreal to join Canada’s four other major lenders in predicting officials would drop the BoC’s overnight lending rate half-a-per-cent to 3.25 ...

Then again, on July 24, 2024, the central bank cut its overnight lending rate by 25 basis points to sit at 4.50%. On September 4, 2024, the BoC cut the key interest rate by another 25 basis points ...

The pace and scale of the BoC’s cuts to its overnight rate — along with a number of ... by non-mortgage credit products — such as auto loans and credit cards," the report said.

They are released once a year with a five-year lag. The Bank of Canada today reduced its target for the overnight rate to 4¾%, with the Bank Rate at 5% and the deposit rate at 4¾%. The Bank is ...

fixed rates are based on bond yields, which reflect economic forecasts and investor sentiment, says Daniel Rethazy, senior vice-president of personal lending at CIBC. “If BoC rate changes align ...