Canadian Underwriter

Keyword
interest rate

News Insurance

Bank of Canada holds rate, forecasts decline in GDP of 7.8% this year

July 15, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – 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

News EmploymentLegislation / Regulation

Bank of Canada keeps key rate target on hold, expects return to growth in Q3

June 3, 2020 Jordan Press - THE CANADIAN PRESS

OTTAWA – The economy appears to have avoided a worst-case scenario due to the COVID-19 pandemic, the Bank of Canada said Wednesday as it kept its key interest rate steady at its lower bound. The bank left its target for

News Insurance

How long you might wait for interest rate hikes

July 12, 2019 by Greg Meckbach

Interest rates in Canada won’t change for the next 18 months, but what happens after that is hard to predict, a Bank of Montreal economics expert suggested Thursday. The Bank of Canada announced Wednesday it is keeping the overnight interest

News Insurance

Bank of Canada holds interest rate, warns of drag from global trade tensions

July 10, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada is leaving its key interest rate unchanged in an announcement that balances domestic economic improvements with an expanding global slowdown caused by trade conflicts. The decision Wednesday kept the interest rate at 1.75 per

News InsuranceReinsurance

Why Swiss Re says insurance profitability will remain ‘under pressure’

July 5, 2019 by Greg Meckbach

Expect the low-interest-rate environment to continue for at least two more years, Swiss Re warned Thursday. “Insurers will continue to operate in a low-interest-rate environment for the next two years at least, meaning that industry profitability will remain under pressure,”

News Insurance

Could interest rates drop next month?

June 26, 2019 Martin Crutsinger - THE ASSOCIATED PRESS

WASHINGTON – Federal Reserve Chairman Jerome Powell said Tuesday the economic outlook has become cloudier since early May, with rising uncertainties over trade and global growth causing the central bank to reassess its next move on interest rates. Speaking to

News Markets / Coverages

Could Canada cut interest rates?

April 2, 2019 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – Bank of Canada governor Stephen Poloz says the economy needs a longer lift from stimulative interest rates to overcome domestic and global economic hurdles, though he predicts the country’s recent economic weakness will only be temporary. Poloz, speaking

News Earnings / Ratings

What it will take for another interest rate hike

February 21, 2019 Andy Blatchford THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says his trend-setting interest rate is low enough, at its below-inflation level of 1.75 per cent, that it’s delivering stimulative effects to the economy. But even in the stronger economy, governor

News Markets / Coverages

Canadian benchmark interest rate up 0.25 percentage points

July 11, 2018 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada raised its benchmark interest rate Wednesday in an economy that it predicts will remain resilient even as it faces an even bigger bite from deepening trade tensions. The rate hike was the central bank’s

News Earnings / RatingsInsuranceMarkets / Coverages

Bank of Canada holds rate, suggests more hikes likely at more cautious pace

October 25, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes, but suggested future increases are still likely, albeit at a more-gradual pace. In its scheduled announcement, the central bank said it held off

News Earnings / RatingsInsurance

After hiking twice, there’s ‘no predetermined path’ for rates from here: Bank of Canada’s Poloz

September 28, 2017 Andy Blatchford - THE CANADIAN PRESS

OTTAWA – The head of the Bank of Canada says that after two interest-rate hikes this summer there is “no predetermined path” for the benchmark going forward. In a speech Wednesday, governor Stephen Poloz said many unknowns and external risks

News Earnings / RatingsInsuranceMarkets / CoveragesMergers and Aqcuisitions

‘Persistent low interest rate environment’ among factors affecting Canadian P&C financial performance in 2016: A.M. Best

September 6, 2017 Greg Meckbach, Associate Editor

As the Bank of Canada announced Wednesday its second rate hike in less than two months, an analyst with A.M. Best Company Inc. suggested to industry professionals that  a 2.1-point increase in the industry-wide operating ratio in the Canadian property