The Bank of Canada (BoC) cut its overnight rate by 50 basis points, to 3.25%, while stating that it will continue with Quantitative Tightening (QT). The bank highlighted that economic growth has been weaker than they expected, stating that "the economy grew by 1% in the third quarter,...
More importantly, what does today’s interest rate decision mean for the Canadian commercial real estate market as we approach the final stretch of 2024? Canada’s softening labour market comes to the forefront At the BoC’s rate announcement in September, it became clear that attention ...
The Bank of Canada (BoC) sets the official overnight rate — the benchmark target rate used by banks, credit unions and lenders to establish interest rates. This benchmark rate greatly impacts savings accounts, mortgages, interest rates charged on personal and car loans and other forms of debt...
Wednesday's announcement is in line withmarket predictions. Canada is quickly moving towards its target of a 2 per cent Consumer Price Index, with a 2.7 per cent rise in June. Promising inflation data from the U.S. also supported the possibility of another cut. How this BoC rate cut affec...
TORONTO,Oct. 17, 2024/CNW/ -Royal Bank of Canada(TSX: RY) (NYSE: RY) today announced the offering ofUS$1.0 billionof non-viability contingent capital (NVCC) Additional Tier 1 (AT1) Limited Recourse Capital Notes, Series 5 (the "LRCNs"). The securities offered are registered with theU...
The Bank of Canada (BoC) announced its fifth interest rate increase of the year, raising rates by another 75 basis points. This follows its July The Bank of Canada announced its fifth interest rate increase of the year, raising rates by 75 basis points.
Economists were split on whether the Bank of Canada would go with half or three-quarters of a percentage point heading into the announcement Wednesday. Tu Nguyen, an economist with RSM Canada, said the announcement is “surprising” and “risky” given the U.S. Federal Reserv...
He said the central bank would need to lower rates significantly to avert a severe recession, and sees the Bank of Canada cutting rates by at least 200 to 300 basis points to provide economic relief. The Bank of Canada’s next interest rate announcement is scheduled for Dec. 6. Rosenberg ...
Traders Look to Bank of Canada Rate Announcement, More Fiscal Cliff UncertaintyTraders look to interest rate announcement--TORONTO - The Bank of Canada is expected to announce...Morrison, Malcolm
The Bank of Canada (BoC) cut its policy rate by 25 bps to 4.50% at today's monetary policy announcement, following on from the initial rate cut it delivered in June. Just as important as the rate cut, the BoC offered dovish policy guidance, saying that “downside risks are taking on ...