Paul Volcker wanted to tame inflation and the Bank of Canada followed suit. The prime rate, which had fallen to 12.25% in July 1980 jumped to 22.75% by August 1981. A five-year fixed rate mortgage ...

The prime rate is a base rate set by Canadian banks to determine the variable interest rates they can charge on lending products, such as mortgages and loans. Many or all of the products featured ...

CIBC’s prime rate is the basis for its variable-rate lending products, like mortgages, credit cards and lines of credit. When the Bank of Canada adjusts its overnight rate, CIBC’s prime rate ...

The Bank of Canada (BoC) delivers a widely expected 25 basis points rate cut, bringing interest rates down to 3.00% on Wednesday. This reduction in rates comes at a slower pace after back-to-back ...

Craig Sebastiano is a personal finance writer based in Toronto. He was previously the managing editor at Ratehub.ca and has written about credit cards, mortgages, banking, investing and investment ...