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Daily Archives: September 6, 2017

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Key Overnight rate increase

Banks hike Prime Rate as BoC pumps up Policy Interest Rate

Interest RateBy Terry KilakosSeptember 6, 2017

Banks hiked prime rate as BoC pumps up the Policy Interest Rate. The big banks wasted no time today in increasing the prime rate, as the Bank of Canada raised the key overnight rate. This is the second such increase in the last couple of months. We have seen the rate go from .50% to…

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