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Bank of Canada
Bank of Canada keeps key interest rate target on hold
June 9, 2021 The Canadian PressOTTAWA – The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent. The rate has been on hold at its rock-bottom level since the onset of the pandemic last year and the central…
Bank of Canada keeps rate on hold, sees brighter economic outlook
April 21, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada is keeping its key interest rate target on hold as it raises its outlook for economic growth this year. The key rate remains at 0.25 per cent where it has held steady for more…
Bank of Canada keeps key interest rate target on hold despite more upbeat forecast
March 11, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday even as it said it now expects the economy will grow over the first three months of this year, an about-face from its previous forecast just…
Bank of Canada keeps key rate at 0.25 per cent, warns of economic decline in 2021
January 20, 2021 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada says the national economy will go in reverse for the first quarter of 2021, hammering the hardest-hit workers again on the path to a recovery that rests on the rollout of vaccines. Workers in…
Bank of Canada and OSFI team up for pilot project on climate change risk
November 18, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – Canada’s top central banker is making a plea for the country to more quickly address the impacts of climate change to avoid any economic ripple effects on households and businesses. Tiff Macklem made the case in a speech…
Bank of Canada holds rate steady, says COVID-19 economic recovery likely by 2022
October 28, 2020 The Canadian PressOTTAWA – The Bank of Canada is keeping its key interest rate on hold as it says the country’s economy won’t fully recover what was lost to COVID-19 until 2022, with the road to there dependent on the path of…
Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year
July 15, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada is holding its key interest rate at 0.25 per cent in response to what it calls the “extremely uncertain” economic outlook from the COVID-19 pandemic, and plans to keep it there until the picture…
Bank of Canada warns in report of business, household debt from COVID 19
May 14, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada says there are signs in the country’s financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis. The central bank has spent the last two months making a…
Economic downturn from COVID-19 will be sharpest on record, Bank of Canada warns
April 15, 2020 The Canadian PressOTTAWA – The Bank of Canada is warning that the downturn tied to COVID-19 will be the worst on record and that the economic recovery will depend on the effectiveness of current measures to bring the pandemic under control. The…
Bank of Canada cuts key rate amid coronavirus concerns
March 4, 2020 Jordan Press - THE CANADIAN PRESSOTTAWA – The Bank of Canada slashed its key interest rate target by half a percentage point, dropping it to 1.25 per cent in what economists saw as a rapid response to the growing economic shock from the novel coronavirus…
Trade conflicts and uncertainty remain a key risk: Bank of Canada
December 4, 2019 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada kept its key interest rate on hold Wednesday, noting that while global recession concerns are waning, trade conflicts and related uncertainty continue to remain a key risk. The central bank’s overnight rate target has…
Can Canada weather a global financial storm?
November 19, 2019 The Canadian PressMONTREAL – The global economic picture has worsened, increasing risks to global growth and chances of financial stress that could spill over into Canada, the senior deputy governor of the Bank of Canada said Tuesday. In a speech to the…