Canada’s Banking System is the Soundest in the World

The World Economic Forum’s 2010-11 Competitiveness Report ranked Canada’s banking system as the soundest in the world for the third consecutive year.

Bank of Canada Increased Interest Rate

The Bank of Canada increased their rate ¼% today. This brings the overnight rate to one percent. They are expecting this rate to stay for at least a year. Prime rate is expected to go up ¼% on Monday.