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,...
Ratehub.ca Co-CEO and president of CanWise mortgage lender James Laird shared his thoughts and expectations for the upcoming BoC announcement with Daily Hive. "We are expecting a rate hold from the Bank of Canada next week and will look to the accompanying statement to try to figure out if...
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
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 is expected to make its next interest rate announcement this month, and experts are weighing in on what might be in store for Canadians. The update is scheduled to drop on Jan. 25. It could either be the first interest rate increase of the year or a hold on thecurr...
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.
In the rate announcement, the Bank of Canada says global inflation remains high because of global supply chain disruptions, the effects of COVID-19 and the war in Ukraine. Domestically, the bank says the economy continues to operate in “excess demand.” ...
Federal Reserve holds interest rates steady, seeks further improvement in inflation rate The Federal Reserve wrapped up its policy meeting Wednesday with an announcement about interest rates. Interview with CBS News business analyst Jill Schlesinger ...
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 Reserve...
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...