by Prudent Financial Services | Apr 15, 2020 | Bank of Canada Interest Rate, Canadian Interest Rate, Interest Rates
The Bank of Canada interest rate is back down to 0.25% — the same rate it was in July of 2017 before it began increasing. Read on for what this means for you… From March 4 to April 15, 2020, the Bank of Canada (BOC) interest rate has undergone significant changes. On...
by Prudent Financial Services | Mar 20, 2020 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Consumer Debt, Financial Problems, Interest Rates, Prudent Financial
These past couple weeks have been enormously difficult for many Canadians due to the outbreak of the novel coronavirus, COVID-19, and subsequent measures to “flatten the curve.” While these undertakings are aimed to keep the public safe and reduce infection risk,...
by Prudent Financial Services | Mar 4, 2020 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Interest Rates
The Bank of Canada interest rate is now at 1.25% – a decrease of 0.5% from 1.75%. What does the interest rate cut mean for Canadian consumers? That’s what we’re here to discuss. Why Did the Bank of Canada Cut Interest Rates? On March 4, 2020, the Bank of Canada...
by Prudent Financial Services | Jan 22, 2020 | Bank of Canada Interest Rate, Canadian Interest Rate, Interest Rates, Mortgage Interest Rate
The Bank of Canada (BOC) interest rate is staying the same for January 2020. It’s the 10th time in a row this has happened — the interest rate has stayed at 1.75% since October of 2018. But the January 2020 BOC announcement pointed to an interesting trend – Canadians...
by Prudent Financial Services | Dec 4, 2019 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Credit Card Debt, Credit Rebuilding, Financial Planning, Getting Out of Debt, Holiday Spending, Interest Rates, Mortgage Interest Rate, Prudent Financial
Start Your New Year’s Financial Planning Early! The Bank of Canada interest rate is officially staying at 1.75% for the rest of the year. On December 4, 2019, the Bank of Canada (BOC) announced the interest rate would remain the same for another month. This marks no...
by Prudent Financial Services | Oct 30, 2019 | Bank of Canada Interest Rate, Canadian Consumer Debt, Canadian Interest Rate, Getting Out of Debt, Interest Rates, Mortgage Interest Rate
The Canadian interest rate has officially gone one year without any change. On October 30, 2019, the Bank of Canada (BOC) announced the Canadian interest rate will stay at 1.75% for another month. This rate was set on October 24, 2018, marking one year of holds. While...
