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There’s a new limit on the rates Canadians are charged when they take out high-interest loans — a move aimed at preventing what the federal government calls “predatory lending practices.” Effective Jan. 1, lenders are prohibited from charging Canadians an interest rate of more than 35 per cent on loans. …
Read More »Bank of Canada all but certain to raise lending rates this week — with more hikes to come
The Bank of Canada is expected to raise its benchmark interest rate by half a percentage point on Wednesday, a move designed to rein in inflation, running at its highest level in decades. There’s a virtually unanimous view among economists that the bank will move its benchmark lending rate to 1.5 …
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