Inflation is cooling, but the Bank of Canada isn’t done its fight: economists
September 20, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Inflation in Canada is cooling faster than expected, but economists don’t expect the Bank of Canada to back down from its fight just yet. The annual inflation rate slowed to 7.0 per cent in August, Statistics Canada said…
Bank of Canada raises key interest rate by 0.75%, says rates likely need to go higher
September 7, 2022 The Canadian PressOTTAWA – The Bank of Canada raised its key interest rate by three-quarters of a percentage point Wednesday and signalled this won’t be the last increase as it continues its battle against high inflation. The rate hike was in line…
Bank of Canada expected to raise interest rate for fifth time at pivotal moment for economy
September 2, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Inflation appears to have peaked but it’s still running hot and a supersized rate hike from the Bank of Canada next week is widely expected. Some economists think Wednesday’s hike could be the last for a while. “We…
Economists predict inflation climbed even higher in June amid ‘reopening effect’
July 18, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Economists are predicting an even higher reading of inflation for June as energy and food prices crept higher and the economy reopened further. The consumer price index in Canada hit a nearly 40-year high of 7.7 per cent…
Economists expect Bank of Canada to hike key interest rate by 0.75%
July 12, 2022 Nojoud Al Mallees - THE CANADIAN PRESSOTTAWA – Economists are predicting the Bank of Canada will hike its key interest rate by three-quarters of a percentage point on Wednesday as inflation rages on globally. In Canada, inflation hit a 39-year-high of 7.7 per cent in May…
Bank of Canada says economy can handle higher interest rates
June 10, 2022 Ian Bickis - THE CANADIAN PRESSHigh household debt and elevated housing prices have become bigger vulnerabilities in the past year, but the economy can still handle the rising interest rates needed to tame inflation, Bank of Canada governor Tiff Macklem said Thursday. “We think the…
Bank of Canada governor says he won’t ‘rule anything out’ on rates
April 22, 2022 Adena Ali - THE CANADIAN PRESSTORONTO – On a day when the Federal Reserve spooked markets with its tough talk on interest rates, Bank of Canada governor Tiff Macklem says he won’t “rule anything out” when it comes to the central bank’s own interest rate…
Bank of Canada raises key interest rate and warns further hikes still to come
April 13, 2022 The Canadian PressOTTAWA – The Bank of Canada raised its key interest rate by the highest amount in more than 20 years and warned more rate hikes are coming as it increased its outlook for inflation. The central bank hiked its policy…
Businesses bracing for high inflation to stick around over next two years: survey
April 4, 2022 Adena Ali - THE CANADIAN PRESSThe Bank of Canada said Monday that Canadian businesses expect average inflation to remain elevated over the next two years, but see interest rate moves and better supply chains cooling things off longer term. The central bank’s latest Business Outlook…
Bank of Canada says near-term inflation higher amid Ukraine war
March 25, 2022 The Canadian PressOTTAWA – The Russian invasion of Ukraine is adding to inflationary pressures around the world and in Canada, a senior Bank of Canada official said Friday. In a speech by webcast to a conference at the U.S. Federal Reserve Bank…
Big banks raise prime rate after BoC hike
March 2, 2022 Advisor’s Edge staff, with files from The Canadian PressMany of Canada’s largest banks are increasing their prime interest rate by 25 basis points following the Bank of Canada’s rate announcement. The central bank said Wednesday it was increasing its key rate by a quarter of a percentage point…
Increased productivity, business investment, needed to temper inflation
February 9, 2022 The Canadian PressOTTAWA – The governor of the Bank of Canada says higher interest rates are coming, but businesses also need to boost productivity to help keep rising prices in check over the long term. Tiff Macklem, speaking virtually at a Canadian…