Vine Group Executive Market Commentary December 2022
The Bank of Canada (BOC) increased their overnight rate again on December 7, 2022, by 0.50%, taking the overnight rate to 4.25%. This increase will bring the Prime rate for most lenders to 6.45% and brings the cumulative tally of increases to 4.00% for 2022 (the year started at 0.25%), taking it to the highest level it has been in 15 years.
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Tyler Lipinski • 647.868.1427 • vinegroup.ca