October 2008 - Posts

21 October 2008
Prime Drops To 4%
"Experts" were wrong. Prime rate is down at 4%. TD Canada Trust was the first of big Canadian banks to move on interest rates this afternoon when it announced that it has lowered its prime lending rate by 35 basis points to 4%, effective Oct. Read More...
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21 October 2008
Gas Price Drops Below $1/Litre
I just filled up my car at Costco. A litre of gas was priced under $1 (@ 99.9 Cents). I wasn't the only one excited about the lower price at the pump. 2 Costco employees were controlling traffic at the pumps. Read More...
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21 October 2008
Interest Rate Cut Again. Will Prime Rate Come Down?
The Bank of Canada cut its key interest rate again today (October 21st) by a quarter of a percentage point, attempting to give the Canadian economy a boost. Today's cut follows an unscheduled half-point reduction on Oct. 8 in co-operation with other Read More...
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10 October 2008
Prime Rate Drops To 4.25% With Govt. Help.
Canadian banks moved to lower prime lending rates today. The 2nd cut to prime rate in this week comes after the Canadian government moved to shore up the nation's banks by taking on some of their mortgages in a bid to ease higher borrowing costs. Read More...
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08 October 2008
Unexpected Interest Rate Cut - Prime Rate 4.50%
The Bank of Canada cut its key interest rate by 50 basis points to 2.50 percent today in a coordinated effort with other central banks to help calm the financial markets. The decision to lower its key rate ahead of its scheduled interest rate announcement Read More...
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