Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 16, 1981, Winnipeg, Manitoba 12 Winnipeg free press thursday april 16, 1981 Bank of Canada rate up for fourth straight week Ottawa up the Bank of can Ada rate Rose for the fourth consecutive week yesterday to 17.16 per cent from 16.94 per a week earlier keeping Pace with continuing . Interest rate increases. The Central Bank s rate topped the 17-per-cent Mark again where it had been for three months before falling in March. The trend setting rate came a Day Early this week due to the Good Friday Bank Holiday. Muney Market analysis and economists said the latest increase reflects the Central Bank s determination to maintain the traditional level Between Canadian and . Rates to protect the weakened Canadian Dollar. Strong pressure the Dollar has been under Strong downward pressure due to the rising . Rates which have drawn invest ment Money out of Canada. The move is also in line with the Bank s warning that rates will remain High until inflation reported at an an Nual rate of 12.2 per cent in february is brought under control. New figures for March were to be released today. Several leading . Banks have in creased their prime rates during the last week to 17.5 per cent. In Canada it is 17.75 per cent. The prime rate is the interest Banks charge their most Cre Dit worthy customers. . Rates had dropped from More than 20 per cent to the 17-per-cent Range within a three month period. Alex Thompson senior financial economist for the Royal Bank said he believed the Central Bank was gradually increasing its rate while waiting to see what happens to the volatile . Situation. I think the Bank of Canada is be having in a cautious manner while signalling it is ready to move rates up on a week to week Thompson said. He said there should be no significant Impact on Short term consumer Loans although the upward trend certainly in t going to do them any Good i demonstrates concern an increase in mortgage Rales of one Quarter of a percentage Point to 17.5 per cent by some Canadian chartered Banks last week also demonstrates con Cern that higher rates May be around for some time. Mortgages Are Long term Loans and the trend reflects concern on the part of the Hanks that rates May Rise further and remain High in the Long run. Within hours of the increase the Bank of Nova Scotia announced in to Ronto that it was raising its prime lending rate by half a percentage Point to 18.25 per cent reflecting a North american trend to higher interest costs. Other major chartered Banks have not yet announced any change in their prime rates. Prime rate increases do not directly affect other types of Loans but changes in consumer loan rates usually follow. Easter the time for Robin s Sutherland ave the Wood centred Molj pings i we Wood like to serve y0u i r p. Doors plywood hardwoods decking cottage specials fencing 4 1 Cedar posts of Spruce boards construction 18cun.ft. 24 in. It. 21cun.f1 Semi transparent solids Cedar boards res Awn face 8c in. It. 33c Lin. It. 45 Lin. It. We Are pre staining specialists. Cedar suitable Lor picnic tables Etc. 210 la. Shingles Cash bundle carry Weld Wall pre stained a Spruce Sheet 1 "x6" t g a Pine Cement Cash 95 carry bag so you thought your provincial health care program paid he s plans for you ii i i. Or Nir or eniphno.1 Luisiii is. Supple ment Haltli Cut link Adit ask Lor Luse from Manitoba Blue act applications for Only 1st. Close june 1st. 1981. Manitoba Blue Cross non Hho fit health service by and for Manitoban Yihia Hilo i irk . I o in id kit. I Linin in i sols Early specials my 7-9 am. Sat. April 18 Mary Miles sliced Side Bacon 500 g pkg. A. Limit 2 pkg. Special Canada Grade a medium is Doz. Limit 2 special Sun crop Frozen unsweetened concentrated juice 12.25fl. Of. Cont., a. Limit 6 special values effective 7-9 . Sat. April 18 Only a definite difference Tommion we Reserve the right to limit quantities. Dominion stores limited. I ;