Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - *Updated* Ongoing Bank of Canada Benchmark Rate Announcements

kevman · 09-07-2022, 02:27 PM

I want to know when the banks are going to give us our .2% back on their lending rates.

In 2014 or so when the BOC rate was 1% and the banks had 3% prime rates the spread was 2%. When the BOC cut their rates .25% in consecutive sessions the banks only provided .15% cuts enlarging the spread to 2.2%. This summer when the BOC rate was 2.5%, the banks had a 4.7% prime rate. With the BOC jump to 3.25% are the banks going to 5.45% or are they finally going back to the historical spread of 2% over BOC rate?

09-07-2022, 02:27 PM	#235
kevman First Line Centre Join Date: Apr 2004 Exp:	I want to know when the banks are going to give us our .2% back on their lending rates. In 2014 or so when the BOC rate was 1% and the banks had 3% prime rates the spread was 2%. When the BOC cut their rates .25% in consecutive sessions the banks only provided .15% cuts enlarging the spread to 2.2%. This summer when the BOC rate was 2.5%, the banks had a 4.7% prime rate. With the BOC jump to 3.25% are the banks going to 5.45% or are they finally going back to the historical spread of 2% over BOC rate?