Bank of Canada interest rate cut: 5 ways consumers may be affected
Article by CBC News, January 21, 2015
“The Bank of Canada surprised financial markets by cutting its key interest rate by 0.25 per cent on Wednesday.
Here are five ways the central bank’s move will affect Canadian consumers:
1. Cheaper mortgages for some, but not all
2. Borrowing on lines of credit, credit cards
3. The loonie flies south
4. No immediate effect on auto loans
5. A bad time for savers
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