Bank of Canada increases overnight rate by 0.50%, Prime should rise to 6.45%.

• December 7, 2022
• /
• Newsworthy

The Bank of Canada has decided to raise the overnight rate today by 0.50%. Expect Prime to rise to 6.45% (previously 5.95%).

The next scheduled date for announcing the overnight rate target is January 25, 2023.

Press release