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Archive for the Canadian Interest Rate Category

Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Canadian Consumer Debt Gets a Break: Bank of Canada Interest Rate Holding at 1.5% for September 2018

Good news for Canadian consumer debt — the Bank of Canada interest rate isn’t going up this month. On September 5, 2018, the Bank of Canada (BOC) announced interest rates will stay at 1.5% for the time being. The rate had increased from 1.25% to 1.5% in…

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The Canadian Interest Rate is Up to 1.5% After July 2018 Announcement

The Canadian Interest Rate is Up to 1.5% After July 2018 Announcement

The Canadian interest rate has risen again, going up to 1.5% as of July 11, 2018. The Bank of Canada (BOC) chose to raise rates for the fourth time in a year. The Canadian interest rate was 0.5% before July of 2017, but since then it has…

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The Bank of Canada Interest Rates Stayed the Same for May 2018, But You Still Need to Be Prepared for a Hike

The Bank of Canada Interest Rates Stayed the Same for May 2018, But You Still Need to Be Prepared for a Hike

The Bank of Canada interest rates remained at 1.25% following a scheduled announcement on May 30, 2018. The Bank of Canada (BOC) kept interest rates the same but warned that higher rates will be needed over time. Economists are predicting that higher rates could be coming into…

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Increasing Canadian Interest Rates – How to Avoid Rising Payments

Increasing Canadian Interest Rates – How to Avoid Rising Payments

There’s no doubt about it — Canadian interest rates are increasing. Since July of 2017, Canadian interest rates have increased three times, going from 0.5% to 1.25% — the highest they’ve been in nine years. And if trends continue as expected, this is just the start. Officials…

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BOC Interest Rate Up to 1.25%: What to Do If You’re Drowning in Debt

BOC Interest Rate Up to 1.25%: What to Do If You’re Drowning in Debt

We’re less than three weeks into 2018, but already we’ve got some big news: the Bank of Canada (BOC) interest rate has increased again. On January 17, 2018, the BOC interest rate rose to 1.25%. This is the highest it’s been in nine years, according to the…

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The Canadian Interest Rate Went Up – What Does That Mean to You?

The Canadian Interest Rate Went Up – What Does That Mean to You?

We’ve heard the warning for several months now: the economy is stabilizing, and Canadians have enjoyed an historically low interest rate for years, but a rate hike in inevitable. And, back in July, after months of speculation, the Bank of Canada finally raised the interest rate from…

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