{"id":3503,"date":"2008-10-21T17:11:06","date_gmt":"2008-10-21T21:11:06","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=3503"},"modified":"2008-10-21T17:11:06","modified_gmt":"2008-10-21T21:11:06","slug":"bank-rate-cut-prime-follows","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=3503","title":{"rendered":"Bank Rate cut; Prime Follows"},"content":{"rendered":"<p>The Bank of Canada <a href=\"http:\/\/www.bankofcanada.ca\/en\/fixed-dates\/2008\/rate_211008.html\">announced today<\/a>:<\/p>\n<blockquote><p> that it is lowering its target for the overnight rate by one-quarter of a percentage point to 2 1\/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1\/2 per cent.<\/p><\/blockquote>\n<p>&#8230; and as a result:<\/p>\n<ul>\n<li><a href=\"http:\/\/micro.newswire.ca\/release.cgi?rkey=1610218210&#038;view=85223-0&#038;Start=0\">Scotia cut to 4.00%<\/a>\n<li><a href=\"http:\/\/micro.newswire.ca\/release.cgi?rkey=1610218218&#038;view=14730-0&#038;Start=0\">CIBC cut to 4.00%<\/a>\n<li><a href=\"http:\/\/www.rbc.com\/newsroom\/links.html\">No announcement from Royal as of 5pm<\/a>\n<li><a href=\"http:\/\/micro.newswire.ca\/release.cgi?rkey=1610218111&#038;view=62342-0&#038;Start=0\">TD cut to 4.00%<\/a>\n<li><a href=\"http:\/\/www2.bmo.com\/news\/0,,divId-4_langId-1_navCode-112,00.html\">No announcement from BMO as of 5pm<\/a><\/ul>\n<p>Assuming that BMO &#038; RY have simply misplaced their quill pens temporarily, this will be a smooth transmission of the Bank Rate cut &#8211; <a href=\"http:\/\/www.prefblog.com\/?p=3352\">unlike last time<\/a>. The Bank of Canada also <a href=\"http:\/\/www.bankofcanada.ca\/en\/notices_fmd\/2008\/not211008_results.html\">announced today<\/a> that $4-billion in 3-month money was auctioned off at 2.778% average yield, range of 2.55% to 3.00%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Canada announced today: that it is lowering its target for the overnight rate by one-quarter of a percentage point to 2 1\/4 per cent. The operating band for the overnight rate is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-3503","post","type-post","status-publish","format-standard","hentry","category-canada-prime"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3503"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/3503\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}