Higher rates are showing up in longer-term GICs
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Article Excerpt
COMMENTS SHARE SAVE FOR LATER Listen to this article Learn more about audio Log in or create a free account to listen to this article. The Bank of Canada may be on hold but parts of Canada’s deposit market are still moving. In May, the clearest changes are not in everyday savings accounts, where the best offers remain promotional and temporary, but in longer-term GICs. Compared to April, the best one-year GIC rates have sunk lower while the best three-year GIC and five-year GIC rates have moved higher. At the short end, the best one-year GIC rate has slipped to 3.60 per cent from 3.65 per cent…
Read full article at The Globe and Mail ↗
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Jun 2, 2026