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 […]
Tag Archives: Bank of Canada
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 […]
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 […]
