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Ottawa, April 25, 1995
1995-034
Canada Savings Bond Interest Rate Set for the Next Three Months
Secretary of State Doug Peters, on behalf of Finance Minister Paul Martin, today announced that, effective May 1, 1995, the rate of interest on all outstanding unmatured series of Canada Savings Bonds (Series 42 to 49 inclusive, issued from 1987 to 1994) is being set at 6.50 per cent per annum, for the three-month period ending July 31, 1995. All other terms of these series remain unchanged.
Mr. Peters said that the rate adjustment takes into account changes in interest rates since the bonds were offered last Fall at 5.75 per cent for the first year, and since January, when the rate was temporarily increased to 7.5 per cent for the three-month period ending April 30. These rate changes are aimed at maintaining the competitiveness of Canada Savings Bonds (CSBs) relative to other savings instruments.
The government will continue to monitor the competitiveness of the interest rate on CSBs and will adjust the rate to reflect changing market conditions. The guaranteed minimum rates set for three years last Fall continue to apply and CSBs continue to be cashable at any time.
Printed material providing details of interest payments and bond values will be available shortly at financial institutions.
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For further information:
Robert White
Bank of Canada
(613) 782-8187
Jon Cockerline
Financial Markets Division
(613) 992-4468
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| Last Updated: 2002-11-26 |
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