Friday, 31 January 2020

Why the Bank of Canada is suddenly concerned about economic growth



This Financial Post video is interesting. The Canadian Government has taken a concerning attitude towards  business investment. It is winding down the economy while ramping up immigration. The video explains what is the strategy here. The economy certainly needs to be as globally competitive as possible. Telecom, banking, airlines and everything else needs to be running well. Cautious consumers will spend less money. It's important to think about how many jobs can be created. The Canadian Prime Minister is thinking hard about how to improve the Canadian economy. Unemployment should be at a reasonable level. Canadians should not get into too much debt.

What is the Bank of Canada prime rate today? 3.95%

The prime rate in Canada is currently 3.95%. The prime rate is also known as the prime lending rate. It is the annual interest rate Canada's major banks and financial institutions use to set interest rates for variable loans and lines of credit, including variable-rate mortgages.

There is a Canada Prime Rate Forecast 2020. As of January 22, 2020, economists' median average forecasts for prime rate are: 3.70% by year-end 2020. 3.83% by year-end 2021.

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