Another move from the Bank of Canada today. The Bank will reduce the overnight rate by 0.25%. Prime will drop to 5.20% (previously 5.45%).
At the first announcement of 2025 and for the sixth announcement in a row the Bank of Canada today decided to reduce the overnight rate. Prime will fall to 5.20%.
The next scheduled date for announcing the overnight rate target is Mar 12, 2025.
https://www.bankofcanada.ca/2025/01/fad-press-release-2025-01-29/