The Bank of Canada is holding its key benchmark rate for the seventh time in a row, despite the U.S. Federal Reserve cutting its own for the first time in 10 years.
Recent finance headlines are full of news on the Barclays Libor scandal. For those not familiar with the global interbank lending interest rate, the news puts into question the validity of trillions of dollars in loans granted between 2006 and 2008. Will Canadian finances be affected? If their bank used this benchmark rate to trade with international financial institutions during this time period, they very well could be.