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Step chart showing the CRA prescribed interest rate holding at 3 percent for a fifth straight quarter.

The Canada Revenue Agency's prescribed rate for family income splitting loans has held at 3.00% for a fifth consecutive quarter, calculated from the average yield on three month Government of Canada Treasury bills auctioned in April and rounded up to the nearest percentage point. Because a prescribed rate loan locks in the rate in effect when it is made, Wednesday's Federal Reserve decision has no bearing on existing arrangements. The Bank of Canada's own rate is not due to be revisited until September 2.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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