Christy Watt

The Bank of Canada has lowered its overnight rate for the 3rd time this month. COVID-19 has had serious impacts on Canadians and the economy so the bank felt that “decisive fiscal policy action” was needed to support individuals and businesses and to minimize permanent damage to the structure of the economy.

Now we wait and see if the banks lower their prime rate and pass the savings on to their variable rate clients. Stay tuned....