Commentary The Bank of Canada has elected to raise its policy rate to 4.75 percent. The market in the form of the yield curve had estimated a 40 percent to 45 percent chance that the Bank would raise the key rate. Economists had put the probability at only 20 percent. Yet again the market outperforms…
Following Latest Hike, Future Bank of Canada Rate Decisions Will Depend More on Recent Data: Deputy Governor
The Bank of Canada’s future interest rate decisions will be “more data-dependent,” says the Bank of Canada’s Deputy Governor Sharon Kozicki, following a key interest rate hike of another half percentage point on Thursday. “We’re starting to see signs that our past tightenings have taken action and we’ve already taken a lot of actions ourselves in raising the…
Inflation Would Be Lower if Ottawa Had Spent Less on Pandemic Stimulus: Bank of Canada Governor
Canada’s current inflation rate of 6.9 percent would have been lower if the federal government had spent less on pandemic stimulus or stopped stimulating the economy earlier, says Bank of Canada Governor Tiff Macklem. Macklem appeared before the House of Commons finance committee yesterday, where he faced questions from all parties about his thoughts on…
Bank of Canada Keeps Key Interest Rate Target on Hold at 0.25 percent
OTTAWA—The Bank of Canada is keeping its key interest rate target on hold at 0.25 percent, saying economic conditions still require it even if things are going better than anticipated. In a statement, the central bank says it expects economic growth in the first quarter of 2021 to be positive, as opposed to its previous…
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