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How soon could we see higher interest rates in Canada?Rate History ; March 17, , % ; December 21, , % ; December 17, , % ; December 18, , %. The Prime Rate declined to % as the Bank of Canada reduced the policy rate by 50 basis points to %. Inflation reached % in September interest rate from % to %; Many rate decreases (round 3). Achieva Financial: from % to %; Alterna Bank: from % to