Keyword
interest rate
Canadian inflation perks up for first time since January, hits 1.2% in July
August 18, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Inflation picked up its pace last month for the first time since January as the annualized rate accelerated to 1.2 per cent, Statistics Canada said Friday. The latest inflation number increased from its June reading of one per…
Bank of Canada raises interest rate to 0.75% from 0.5%
July 13, 2017 by Canadian UnderwriterThe Bank of Canada announced on Wednesday that it has raised its interest rate for the first time in seven years, to 0.75% from 0.5%. “Recent data have bolstered the Bank’s confidence in its outlook for above-potential growth and the…
Bank of Canada expected to raise its key rate for first time in nearly seven years
July 11, 2017 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada is expected to raise its key interest rate target for the first time in nearly seven years on Wednesday following signs the economy is well on the road to recovery after the crash in…
Weaker inflation slows to 1.3%, could weigh on Bank of Canada’s rate decision
June 23, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – Steps by the Bank of Canada to prepare the country for an eventual interest rate hike are bumping up against an inflation rate that has eased up on the accelerator. Weaker year-over-year growth in gasoline prices last month…
Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year
June 19, 2017 by Canadian UnderwriterManitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities…
Hannover Re Group net income down 2.4% to 264.8 million euros in 2017 Q1 compared to 2016 Q1
May 10, 2017 by Canadian UnderwriterGroup net income for Hannover Re contracted to 264.8 million euros in the first quarter of 2017, but was in line with the prior-year quarter’s exceptionally good results, positioning the reinsurer well for achieving its financial targets this year. Group…
Central bank says no rate cut considered amid stronger growth, but notes risks
April 13, 2017 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The head of the Bank of Canada said an interest rate cut was not on the table during the central bank’s latest policy decision, but also warned of persistent risks that suggest it will not hike any time…
Economy making progress, but risks remain, BoC deputy governor says
March 21, 2017 The Canadian PressVANCOUVER – The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada said Tuesday. Lawrence Schembri said recent economic data has been…
U.S. Federal Reserve interest rate increase unlikely to provide much short-term relief for insurers: A.M. Best
December 14, 2016 by Canadian UnderwriterThe U.S. Federal Reserve’s decision to raise short-term interest rates by 25 basis points is unlikely to provide much relief for insurers, ratings firm A.M. Best Company said on Wednesday. That day, the Federal Reserve raised its benchmark rate by…
Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy
December 7, 2016 Andy Blatchford - THE CANADIAN PRESSOTTAWA – The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty. In making the scheduled announcement Wednesday, the central bank said its decision…
Bank of Canada maintains interest rate at 0.5%
October 19, 2016 by Canadian UnderwriterThe Bank of Canada announced on Wednesday that it is maintaining its interest rate target at 0.5%, while downgrading its growth outlook for the country. The central bank expects Canada’s real gross domestic product (GDP) to grow by 1.1% in…
Bank of Canada raises concerns about economy, holds interest rate at 0.5%
September 7, 2016 Craig Wong - THE CANADIAN PRESSOTTAWA – The Bank of Canada struck a note of caution Wednesday as it held its key interest rate target steady at 0.5 per cent and raised concerns after the export sector disappointed earlier this year. “While the strength in…