The Bank of Canada has been aggressively raising interest rates to cool the economy and stave off a recession. Since March 2022, it has increased its key lending rate 10 times, from 0.25% in March 2022 to a 22-year high of 5.00% in July 2022. It looks like the interest rate hikes are working, and […]
31
Jul
Jul
The TSX did better than its American counterparts in 2022 but its been a different story in 2023. U.S. stocks did exceptionally well in the first half of 2023 with the S&P 500 closing out the second quarter up 15.5%. This is impressive, but not as good as the artificial intelligence (AI)-fuelled run on the […]
27
Jul
Jul
Canada’s inflation rate has been declining at a steady pace over the last year, from 8.1% in June 2022 to 2.8% in June 2023. That’s the lowest level since early 2021. And at 2.8%, Canada’s inflation rate has fallen within the Bank of Canada’s target range of 1% to 3% percent. Despite the big drop […]
18
Jul
Jul
Canada’s inflation rate peaked at 8.1% in June 2022. A year later and its at 3.4%. That’s a big drop, and getting close to the long-term average of 3.15%, but it’s not low enough for the Bank of Canada, which just announced it raised its key interest rate by 25 basis points to 5.0%. To […]
11
Jul
Jul
Bay Street and Wall Street tumbled lower on Thursday, July 6 after strong economic data out of the U.S. suggested the labour market remains resilient, pointing to yet another interest rate hike. Data from payroll-services firm ADP showed that private payrolls jumped to 497,000 in June, more than double the 220,000 Wall Street analysts were […]
27
Jun
Jun
The Bank of Canada has raised interest rates nine times since the start of 2022, from 0.25% to the current rate of 4.75%. The central bank has taken an aggressive rate hike policy in an effort to tame stubbornly high inflation. Yet, despite higher interest rates, which is designed to slow consumer consumption, Canadians continue […]
20
Jun
Jun
Depending on who you talk to, stocks are either going way up or way down. Right now, the trend is on the side of the bulls. On June 15, the S&P 500 hit a fresh 52-week high of 411.95, as investors reacted to the Federal Reserve pausing its rate hike. The S&P 500 is officially […]
13
Jun
Jun
The Bank of Canada surprised some when it resumed its monetary tightening policy, increasing its benchmark interest rate by 25 basis points to 4.75%; the highest level since May 2001. This is also the first time that the Bank of Canada has raised its key lending rate since January. At the start of the year […]
06
Jun
Jun
The Toronto Stock Exchange, Canada’s main stock index, is trading at its lowest level since March, as crude oil prices face headwinds and economic data out of Canada and the U.S. could force the Bank of Canada and Federal Reserve to raise interest rates even higher to cool stubbornly high inflation. The Toronto Stock Exchange’s […]
19
May
May
Statistics Canada surprised the markets when it announced that the country’s inflation rate rose unexpectedly in April to 4.4%. After cooling in March to 4.3%, economists were expecting the inflation rate to continue decelerating to 4.1%. This represents the first increasing in inflation since June 2022, when Canada’s inflation rate hit a more than 40-year […]
