08 Sep Bank of Canada raises prime lending rate .25%
CHRONOLOGY-Bank of Canada rate changes since 2000
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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