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BOC lowers Prime rate,

(49643)
   khan from canada
Tuesday, December 9, 2008 08:51 PM 
Reply: >
Bank of Canada lowered its Prime rate by 0.75 BP to 1.50%. All major banks followed suite and lowered their respective prime rate by 0.50 BP to 3.50%
Observer replied on Wednesday, December 10, 2008 09:43 AM 

Is that really 'lower' from 0.75 to 1.5
Abrar replied on Wednesday, December 10, 2008 06:50 PM 

Dear observer, Mr. Khan is saying that bank has lowered interest rate "by" 0.75 BP......not "from". Whereas 100 basis points are equal to 1 percent, so 75 basis points are 3 quarter of a percent and 50 basis points are half percent. He should have written 75BP instead of 0.75BP. I hope I am not wrong.
M.S.Nasir replied on Thursday, December 11, 2008 04:26 PM 

Dear Khan ,

Pl can u give me ur email address. I need some information about the life in Canada.

Regards,
khan from canada replied on Friday, December 12, 2008 12:32 AM 

Thx for correction Abrar
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