Bank of Canada interest rate announcement and release of the Monetary Policy Report
With prime rates being 3% above the upper limit of the Fed Funds Rate, the Prime Rate today is 8.50%. The Federal Open Markets Committee (FOMC) meeting on November 1, 2023, resulted in no rate hike that keeps the current Fed Funds Rate range at 5.25% – 5.50%. The pause in rate hikes results from …
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