| Term | Bank Rate | Our Rate |
| 1 Year | 5.84 % | 4.54 % |
| 2 Year | 5.14 % | 3.99 % |
| 3 Year | 6.05 % | 3.99 % |
| 4 Year | 5.99 % | 3.99 % |
| 5 Year | 6.09 % | 4.04 % |
| 7 Year | 6.40 % | 4.95 % |
| 10 Year | 6.80 % | 5.29 % |
As expected, the Bank of Canada refrained from cutting interest rates at today’s policy meeting. The recent economic news has shown a marked improvement, precluding the Bank from following on the previous two rate cuts this year. The key policy overnight rate is only 50 basis points (one-half of one percentage points) and another 25 basis
The Bank of Canada announced yesterday that they were holding their overnight rate steady. This means prime rate will remain at the ultra low level of 2.25% for a while yet. What is more important is the bank’s commentary. They reiterated their commitment to hold rates at the current level until the end of the
