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,...
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...
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...
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.
OTTAWA, March 7 (Xinhua) -- The Bank of Canada Wednesday announced to keep its interest rate unchanged at 1.25 percent, saying it remains cautious about its next rate move as it ponders various downside risks to the economy. "While the economic outlook is expected to warrant higher interest...
The Bank of Canada (BoC) will issue its third interest rate update of the year at 10 a.m. ET on Wednesday, April 10. Canada's central bank held the k…
Canadian Dollar Lower, Traders Await Bank of Canada Interest Rate Announcement: Loonie Lower Ahead of Rate AnnouncementTORONTO - The Canadian dollar closed slightly lower Monday, a day ahead of the Bank of Canada's...Morrison, Malcolm
That is why the bank is keeping its rate low, to help stimulate the economy, it said. The bleak outlook caused the value of the Canadian dollar to lose half a cent, to trade 0.74 U.S. dollar after the bank's announcement. Despite its downgrade of economic growth, the central bank sai...
In the rate announcement, the Bank of Canada said global inflation remains high because of global supply chain disruptions, the effects of COVID-19 and the war in Ukraine. Domestically, the bank said the economy continues to operate in "excess demand." ...
The Bank of Canada hiked its key interest rate by half of a percentage point Wednesday and said rates will need to rise further to clamp down on decades-high inflation. Since March, the central bank has raised its key interest rate six consecutive times, bringing it from 0...