The London Interbank Offered Rate (Libor), the interest rate benchmark used to calculate interest rates on short-term loans by many large banks, will be phased out after 2021 according to its regulator. The London based Financial Conduct Authority (FCA) recently announced that due to growing concerns regarding the long term sustainability of the benchmark, which … Continue reading
For a second time this year, the Bank of Canada (the Bank) has raised interest rates. As of September 6, 2017, the overnight lending rate is 1 per cent, up from 0.75 per cent. Two increases in a single quarter certainly bucks the trend that the Bank had been setting since 2010. Before July 12, … Continue reading
On July 12, 2017, the Bank of Canada raised its overnight lending rate to 0.75 per cent from 0.5 per cent. This was the first such increase in almost 7 years, after a prolonged policy of fiscal stimulus in the wake of the economic recession. While the need for an interest rate hike in the … Continue reading