Canada's profligate spending forced interest rates higher: Scotiabank
11/20/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Without that boost in spending, the central bank’s key overnight lending rate would be about 3 per cent instead of the current 5 per cent, according to Scotiabank ... More
BoC to begin rate cuts by 2024's second quarter, market players say
11/7/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Experts are anticipating the BoC benchmark interest rate to retreat to 4% by the end of next year
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Interest rates may stay higher for good: Bank of Canada's Carolyn Rogers
11/9/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada’s No. 2 official urged preparation for interest rates staying elevated for longer.
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No more rate hikes expected as unemployment rate rises to 21-month high
11/3/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Canada’s unemployment rate ticked up two basis points to 5.7% in October, suggesting the Bank of Canada can now remain “firmly on the sidelines,” economists ... More
Upcoming mortgage renewals part of why BoC held rate at 5 per cent: Macklem
11/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Bank of Canada governor Tiff Macklem says the central bank held its key interest rate at five per cent in part because of the effect a wave of upcoming mortgage renewals is ... More
Bank of Canada delivers rate hold, but maintains hawkish bias
10/25/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada delivered its second straight rate hold today, but signalled that it remains concerned about inflationary risks and price pressures.
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Bank of Canada likely to begin cutting rates in mid-2024: CIBC's Tal
10/18/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The overnight rate could settle around 3%, according to leading economist
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Economists see Bank of Canada holding on rates after surprise GDP contraction
9/1/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Economists say the latest GDP data from Statistics Canada showing a contraction in the economy suggests the Bank of Canada's rate hiking campaign may be coming to an ... More
How are mortgages keeping inflation high?
7/15/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada hiked interest rates again this week in response to persistently high inflation, prompting questions about the role of mortgages in the ongoing battle with ... More
When will the Bank of Canada put the brakes on its rate-hike campaign?
6/27/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Economists weigh in on the possibilities for the central bank’s policy rate
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BoC debated waiting until July to hike rates, but says data prompted it to act sooner
6/21/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada's governing council considered waiting until July to raise interest rates, but ultimately decided to act sooner in the face of hot economic data.
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Canada's debt rises as rates cut into households' cash flow
6/14/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Hawkish monetary policy and inflation posing headwinds for borrowers, latest figures suggest
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Canada mortgage market crisis coming amid high rates?
6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Could the prospect of persistently high rates spell trouble for the market’s stability?
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Governments shunting 'dirty work' on inflation to Bank of Canada, CIBC says
6/13/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada will have to keep rates higher for longer unless governments do more to dial back their spending, one of the country’s largest commercial lenders ... More
Prime rate reaches 22-year high of 6.95% and could rise further as rate-hike expectations grow
6/11/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Variable-rate borrowers will see their interest cost on their next mortgage payment rise as banks and other financial institutions have lifted their prime rates to a 22-year ... More
Why the Bank of Canada rate hike won't be one and done
6/9/2023 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
Many economists are now pencilling in another hike in July
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Bank of Canada says coronavirus to trigger biggest slump ever, drops forecasts
4/15/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada on Wednesday said the coronavirus outbreak was set to trigger the biggest ever near-term Canadian downturn but suspended its regular economic forecasts, ... More
Bank of Canada: Key interest rate cut to lowest level
3/27/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada is cutting its key interest target by half a percentage point to 0.25 per cent in an unscheduled rate announcement.
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Big Six banks slash prime rates by half a point
3/17/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Big Six banks are slashing their prime lending rates 50 basis points to 2.95 per cent from 3.45 per cent in response to the plunge in the benchmark Bank of Canada interest ... More
Bank of Canada slashes policy rate to 0.75 per cent in surprise cut
3/13/2020 | Posted in Canadian Economy and Interest Rates by Jessi Sandhu
The Bank of Canada cut its trend-setting interest rate by half a percentage point to 0.75 per cent from 1.25 per cent in a surprise move on Friday aimed at softening the ... More
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