Bank of Canada interest rate cut: 5 ways consumers will be affected

(January 21, 2015)

The Bank of Canada surprised financial markets bu cuntting the key lending interest rate by 0.25 per cent on Wednesday.Here are five ways the central bank's move will affect Canadian consumers:1. Cheaper mortgages for some, but not all"This is good news if you're a variable-rate mortgage holder," said Penelope Graham, editor at mortgages are determined by the prime... read more.

Bank of Canada cut in key interest rate!

Central bank sees 2015 economic growth of 2.1%, down from earlier forecast of 2.4%

(January 21, 2015)

The Bank of Canada shocked markets today by cutting its key overnight lending rate by a quarter of a percentage point, citing the economic threat posed by plunging oil prices.
"The drop in oil prices is unambiguously negative for the Canadian economy," Bank of Canada governor Stephen Poloz said in a morning news conference. "Canada's income from oil exports will be reduced, and investment and emplo... read more.