The Bank of Canada held its key lending interest rate at 5% for the fourth consecutive meeting. Of particular note, the central bank said, for the first time, that it won’t raise interest rates again if the economy moves in line with forecasts. “If the economy evolves broadly in line with the projection we published […]
Tag Archives: Bank of Canada
23
Jan
Jan
Statistics Canada announced that the country’s inflation rate in December ticked up to 3.4%, which is up from 3.1% in November. The increase was fueled due to gas prices and higher prices at grocery stores. Grocery prices held pat at 4.7% while prices at restaurants have risen by 5.6% over the last year. Housing prices […]
16
Jan
Jan
The December Consumer Price Index, or CPI, which measures U.S. inflation, rose 0.3% month over month. to 3.4%. This is up from a November reading of 3.1% and higher than the 0.2% month-over-month increase and 3.2% annual reading economist’s were expecting. Housing costs were responsible for more than half of the increase in prices followed […]
28
Nov
Nov
Statistics Canada announced that Canada’s inflation rate slowed to 3.1% in October, that’s down significantly from the 3.8% reading in September. There is a caveat to that drop in inflation, however. The big deceleration was mainly a result of lower gas prices, which were down 6.4% over September and down 7.8% from where gas prices […]
25
Oct
Oct
Canada’s inflation rate unexpectedly dipped in September to 3.8%. That’s down from 4.0% in August. The 3.8% figure is below the 4.0% figure economists were expecting inflation to come in at. The cooling of Canada’s inflation was pretty broad based too, with prices falling for some travel-related services, durable goods, and groceries. The latter of […]
17
Oct
Oct
Bank of Canada Governor Tiff Macklem said that the central bank’s aggressive interest rate policy is working at bringing down inflation. After raising its key lending rate 10 times since the start of 2022, from 0.25% to 5.0%, Canada’s inflation rate has retraced from a 39-year high of 8.1% in June 2022 to 4.0% today. […]
10
Oct
Oct
With many economists and analysts still predicting Canada will enter a recession in 2024, investors may be wondering what they should do? Capitulate, wait on the sidelines, or get involved? What Are the Odds of a Soft-Landing Recession? First things first, the long-promised recession has not yet materialized but most believe it will. The Bank […]
27
Sep
Sep
Canada’s inflation rate unexpectedly jumped in August for the second month in a row. This increases the odds that the Bank of Canada could increase interest rates at least once more this year. After pausing its overnight lending rate earlier in September, investors were optimistic that it would hold interest rates at 5%. Will The […]
12
Sep
Sep
On September 6, the Bank of Canada announced it was holdings its key interest rate at 5%. In a prepared statement the country’s central bank said the cooling job market and slowing economic growth were two reasons why it opted to pause its benchmark lending rate. The Bank of Canada said, however, that should inflationary […]
05
Sep
Sep
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 […]
