I think a half a percent increase on June 1 is very likely.DrAcX wrote: ↑ BoC's next scheduled interest rate announcement is June 1 which might increase rates across the board for all banks to give more options.
With that said, 3.45% is so much higher than other offerings right now that it'll probably still be better even if everyone else increases by 0.5%.
The important part is how much rates will increase in the coming year which could make any 1-yr+ GIC questionable. For example you could be on top for 6 months, then a little below for the last.
With actual inflation in the 30%+ range (don't believe the heavily downplayed numbers the gov't produces) the gov't would be shortsighted to not increase much more much faster.
But what are the chances EQ will raise their rates given they’re so much higher than the rest?