Thursday, March 5, 2009

Lowest Rates in Canadian History

The Canadian Press yesterday reported that The Bank of Canada took its short-term interests rates nearly as low as they can go yesterday, but suggested that may not be enough to rescue an economy downturn that continues to defy projections. The central bank sliced its trend-setting overnight rate half a percentage point to an all-time low of 0.5%. Canada's commercial banks quickly followed suit, cutting their prime rates by half a percentage point to 2.5%, effective today. With rates like this it is a great time to buy!

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