Bank of Canada raises prime lending rate .25%

CHRONOLOGY-Bank of Canada rate changes since 2000

Global Markets ┬╗
TORONTO, Sept 8 | Wed Sep 8, 2010 10:38am EDT

TORONTO, Sept 8 (Reuters) – The Bank of Canada raised its benchmark interest rate for a third consecutive time on Wednesday and sounded surprisingly hawkish despite predicting a more gradual than expected economic recovery.

The central bank’s next rate announcement is October 19. BOCFAD

The following is a chronology of the Bank of Canada’s changes to the target for the overnight rate since 2000. Moves are measured in basis points (bps), each of which equals one-hundredth of a percentage point:

2010

Sept 8 – Raised 25 bps to 1.00 pct

July 20 – Raised 25 bps to 0.75 pct

June 1 – Raised 25 bps to 0.50 pct

2009

April 21 – Cut 25 bps to 0.25 pct

March 3 – Cut 50 bps to 0.50 pct

Jan. 20 – Cut 50 bps to 1.00 pct

2008

Dec. 9 – Cut 75 bps to 1.50 pct

Oct. 21 – Cut 25 bps to 2.25 pct

April 22 – Cut 50 bps to 3.00 pct

March 4 – Cut 50 bps to 3.50 pct

Jan. 22 – Cut 25 bps to 4.00 pct

2007

Dec. 4 – Cut 25 bps to 4.25 pct

July 10 – Raised 25 bps to 4.50 pct

2006

May 24 – Raised 25 bps to 4.25 pct

April 25 – Raised 25 bps to 4.00 pct

March 7 – Raised 25 bps to 3.75 pct

Jan. 24 – Raised 25 bps to 3.50 pct

2005

Dec. 6 – Raised 25 bps to 3.25 pct

Oct. 18 – Raised 25 bps to 3.00 pct

Sept 7, – Raised 25 bps to 2.75 pct

2004

Oct. 19 – Raised 25 bps to 2.50 pct

Sept 8 – Raised 25 bps to 2.25 pct

April 13 – Cut 25 bps to 2.00 pct

March 2 – Cut 25 bps to 2.25 pct

Jan. 20 – Cut 25 bps to 2.50 pct

2003

Sept. 3 – Cut 25 bps to 2.75 pct

July 15 – Cut 25 bps to 3.00 pct

April 15 – Raised 25 bps to 3.25 pct

March 4 – Raised 25 bps to 3.00 pct

2002

July 16 – Raised 25 bps to 2.75 pct

June 4, – Raised 25 bps to 2.50 pct

April 16 – Raised 25 bps to 2.25 pct

Jan. 15 – Cut 25 bps to 2.00 pct

2001

Nov. 27 – Cut 50 bps to 2.25 pct

Oct. 23 – Cut 75 bps to 2.75 pct

Sept. 17 – Cut 50 bps to 3.50 pct

Aug. 28 – Cut 25 bps to 4.00 pct

July 17 – Cut 25 bps to 4.25 pct

May 29 – Cut 25 bps to 4.50 pct

April 17 – Cut 25 bps to 4.75 pct

March 6 – Cut 50 bps to 5.00 pct

Jan. 23 – Cut 25 bps to 5.50 pct

2000

May 17 – Raised 50 bps to 5.75 pct

March 22 – Raised 25 bps to 5.25 pct

Feb. 3 – Raised 25 bps to 5.00 pct (Compiled by Ka Yan Ng and Jeffrey Hodgson)

Pam Martin of Invis, Mortgage Broker – Kelowna,Vernon, Penticton, Okanagan, British Columbia, Canada