Canada Savings Rates Expected to Drop Another 1% by Summer’s End.

Posted: April 28, 2008 in Your Money
Tags: , , ,

” If TD economists are correct, and if banks continued to match the central bank’s reductions, the prime business lending rate would fall from 4.75 per cent as of yesterday to 3.75 per cent by summer. … That would be the cheapest prime rate since 2004 and 2002, following the terrorist attacks in New York and Washington. Over a year, savings on a $100,000, interest-only loan would be $2,500.
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Comments
  1. canuck99 says:

    Canuck99: An savings rate of 2.5% versus real inflation of at least 8% means that savings account is actually shrinking by 5% a year — Protect yourself: buy silver.

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