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Mortgage News & Press Releases - March 2000

  • Bank Rate Raised by ¼ Percentage Point to 5½ Per Cent
    OTTAWA, Ontario, March 22, 2000 — The Bank of Canada raised its Bank Rate today by ¼ of one percentage point to 5½ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank's target for the overnight rate is now 5¼ per cent. This increase in interest rates by the Bank of Canada follows the decision yesterday by the U.S. Federal …

 
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