At its July 24, 2024, rate announcement, the Bank of Canada once again cut its key lending rate by 25 basis points to 4.50%. Again, the banks cut their prime rate to 6.70%.

The Bank of Canada’s cut to 3.25 per cent marks the fifth consecutive decrease this year after it started lowering its key rate from five per cent in June. Bank prime rates help determine the ...

On Mar. 13, 2025, following the Bank of Canada’s last overnight rate cut to 2.75%, most of Canada’s major banks — including the Royal Bank of Canada and TD Bank — reduced their prime rates ...

As of October 23, 2024, the Bank of Canada interest rate is 3.75%. This is the fourth, consecutive drop in the BoC's overnight rate — the target interest rate that influences prime rate used by ...

Canadian financial institutions say they are lowering their prime lending rates to match the decrease announced by the Bank of Canada. The central bank lowered its key interest rate by a quarter ...

Bank prime rates help determine the cost of a range of loans including variable-rate mortgages and lines of credit. The Bank of Canada’s next scheduled interest rate decision is Dec. 11.

The Bank of Canada left its main interest rate unchanged, at 2.75%, saying the economy has softened but not deteriorated, and inflation has picked up steam.

What is the Bank of Canada’s interest rate? This latest decrease brings the central bank’s rate—which sets the benchmark for Canada’s prime rate and variable-rate borrowing products—to 4.5%.

TORONTO - Canadian financial institutions are lowering their prime lending rates to match the half percentage point decrease announced today by the Bank of Canada. Updated Dec. 11, 2024 at 4:40 p ...

With interest rate cuts lowering the current prime rate, at 4.20 per cent, monthly mortgage payments for a home in the city would become approximately $4,659, a decrease of about $71 per month.